Business Entities LAW346

Which of the following are corporate bodies?

• Sole Proprietorship

• Partnership

• Limited Liability Partnership

• Company

What do you understand about 'corporate body'?

• No separate legal entity between the business and the person who conduct it.

• Have separate legal entity between the  business and the person who conduct it.

How conventional partnership differ from LLP?

What happens when all members of a company die?

• The business ends

• The business survives

How many partners are allowed in a non-professional partnership?

• 2 only

• 20 only

• 100 only

• Unlimited

Briefly describe the types of business vehicles in Malaysia

Who owns the property of a sole proprietorship business?

• The business

• The owner

• The partner

• The customer

Can a third party sues partners in a LLP?

• Yes

• No

Does the doctrine of separate legal entity absolute?

• Yes

• No

Under what statute a sole proprietorship business is registered?

• Companies Act 2016.

• Limited Liability Partnership Act 2012.

• Partnership Act 1961.

• Registration of Business Act 1956.