List the differences between the Limited Liability Partnership (LLP) and the Limited Liability Company.

CA Foundation · Business Laws · MTP · June 2024
List the differences between the Limited Liability Partnership (LLP) and the Limited Liability Company.

Suggested Answer and Working Notes:

(a) If the price of the goods would not have settled in cash and some amount would have been pending then Mr. G will be treated as an unpaid seller and he can enforce the following rights against the goods as well as against the buyer personally: (a) Where under a contract of sale, the property in the goods has passed to the buyer and the buyer wrongfully neglects or refuses to pay for the goods according to the terms of the contract, the seller may sue him for the price of the goods. [Section 55 (1) of the Sales of Goods Act, 1930] (b) Where under a contract of sale the price is payable on a day certain irrespective of delivery and the buyer wrongfully neglects or refuses to pay such price, the seller may sue him for the price although the property in the goods has not passed and the goods have not been appropriated to the contract. [Section 55 (2) of the Sales of Goods Act, 1930].

Topics: The Limited Liability Partnership Act, 2008

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