As the name suggests Throwback Cleveland Indians Jerseys , in a limited liability partnership all the partners have limited liability which means that every partner is liable for its own actions and not for the acts of others. Unlike a Partnership firm, in a LLP if any negligence or misconduct is caused on the part of ant partner, all others will be excluded from the liability arising out of such misconduct or negligence and the negligent partner alone will be liable. In a limited liability partnership, partners have a direct say in the business i.e. they can manage the business directly. A LLP is governed by the Limited Liability Partnership Act 2008. One more distinguishing feature of LLP is that a separate legal entity which can sue and be sued in its own name.
Features of LLP:
1) As already stated in a LLP Custom Cleveland Indians Jerseys , all the partners are liable for their own acts and not for the negligence and misconduct of others. 2) A LLP is a legal entity which is separate from its partners and can sue and be sued in its own name. 3) For constituting a LLP, it should have minimum two partners and there is no fixed limit for maximum no. of partners. 4) The rights and duties of the Partners will be fixed as agreed upon by them in the agreement. The partners have a choice to devise the agreement according to their own convenience. 5) Liability of partners is limited to their share in the LLP and except in the cases of fraud; it cannot be extended up to their personal assets. 6) LLP should maintain annual accounts and if the contribution exceeds Rs. 25 lakhs or the annual turnover exceeds Rs 40 lakhs. 7) It should be a “for profit business”.
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Here are a couple of questions to ask yourself while planning the delivery:
Have I been to this location before? How long can it take me to reach there? Will I be delivering during rush hour? Are there alternate routes to take just in case of an accident or delay? Do I have other deliveries that day? Do they coordinate?
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