The partners in a limited liability partnership are liable for the debts of the LLP:

Question

Quizplus · Accepted Answer

The whole point of a limited liability partnership is that the partners are not personally liable for the debts and liabilities of the business beyond their investment. Therefore, option B is the correct answer. Option A is incorrect because it contradicts the fundamental nature of an LLP. Option C is incorrect because liabilities are not extending beyond the investment, and Option D is incorrect because LLP partners do have limited liability.

The Partners in a Limited Liability Partnership Are Liable for the Debts