Ontario Barrister and Solicitor Practice Exam 2025 – The All-in-One Guide to Achieving Exam Success!

Question: 1 / 400

Which act governs LLPs?

Corporations Act

Civil Code

Partnerships Act

The correct answer is "Partnerships Act". This is because LLPs, or Limited Liability Partnerships, are a special type of partnership that combines the pass-through tax structure of a partnership with the limited liability protection of a corporation. Therefore, they are specifically regulated under the Partnerships Act, rather than the Corporations Act, Civil Code, or Commercial Code. The Corporations Act governs corporations, the Civil Code governs civil laws, and the Commercial Code governs commercial transactions, which are not relevant to LLPs.

Get further explanation with Examzify DeepDiveBeta

Commercial Code

Next Question

Report this question

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy