Question 3 (d)

Short notes: partner as agent of the LLP; change of name

6 marks

Time to write
About 12 minutes
Topic
Short notes and true or false across several topics
Notes
Crux notes

Question

Question 3 (d) · 6 marks

Write short notes on: (3+3=6)

  1. A partner as an agent of the LLP.

  2. The rules on change in the name of an LLP.

Reworded from the university paper; the task is the same. The original paper belongs to the University of Delhi. See DU's question bank.

Before you write

Read off the question and its marks

12 minfor 6 marks

Read from the question

  • (i)–(ii)2 items, each marked on its own: give each its share.
  • short notesA note opens with the meaning, then two or three key points. No long introduction.

Write it in this order

The parts stand alone: start with the one you are surest of.

  1. Read; underline the asks; jot your points 1 min
  2. 1 (i) Partner as agent of the LLP 3 marks 5 min
  3. 2 (ii) Change of name 3 marks 5 min
  4. Check: every ask answered, key terms underlined 1 min

Short on time? A few lines on every part beat a full answer to one: each part is capped at its own marks.

Try it first. About 12 minutes for 6 marks. Write it out, then open the solution.

Solution

Hover or tap a marked figure, like 72,000, to see how it is made and where else it appears.

(i) Partner as an agent of the LLP. Every partner of an LLP is, for the purpose of the business of the LLP, the agent of the LLP, but not of the other partners (s. 26). His authorised acts bind the LLP, a separate legal entity, but not his fellow partners; and the partners' liability is limited to their agreed contribution.

(ii) Rules on change in the name of an LLP.

  1. Name (s. 15): every LLP must have "limited liability partnership" or "LLP" as the last words of its name. No LLP is registered by a name that is undesirable, or identical with or too nearly resembling that of another LLP, a company or a registered trade mark.

  2. Reservation (s. 16): a person may apply to the Registrar to reserve a name for a proposed LLP or a name to which an LLP proposes to change; if satisfied, the Registrar reserves it for three months.

  3. Compulsory change (rectification of name) (s. 17): if an LLP, on its first registration or on registration by a new name, is registered by a name identical with or too nearly resembling that of another LLP, a company, or a registered trade mark, “as is likely to be mistaken for it, then on an application” by such LLP, a company or the trade mark's proprietor, the Central Government may direct the LLP to change its name or new name within three months from the date of the direction.

  4. Voluntary change (s. 19): an LLP may change its registered name by filing with the Registrar a notice of the change, in the prescribed form and manner and with the prescribed fee; it may first reserve the proposed name as above.

  5. Procedure (rule 20 of the LLP Rules, 2009): the LLP changes its name by the procedure in its LLP agreement or, where the agreement provides none, with the consent of all partners; it gives notice of the change to the Registrar in Form 5, with the fee, within 30 days; and the Registrar, on being satisfied that the new name is the one he reserved, issues a fresh certificate of incorporation in the new name, the change taking effect from the date of that certificate.

Where the 6 marks sit

#ComponentMarks
1(i) Partner as agent of the LLP3
2(ii) Change of name3
Total6
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