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Question
An LLC:A.offers principals the same liability coverage as principals in corporations with taxation at the business entity level.
B.offers principals the same liability coverage as principals in corporations with pass through taxation.
C.offers principals the same liability coverage as general partners in a partnership with taxation at the business entity level.
D.offers principals the same liability coverage as limited partners in a partnership with pass through taxation.
Answer
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Related questions
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A.Mobil was able to get out of the contract for the $156 million lease because the new law passed at the last minute changed the terms of the original contract amounting to repudiation by the United States.
B.Mobil was able to get out of the contract for the $156 million lease because the new law passed at the last minute changed the terms of the contract, barring certain types of oil exploration, frustrating Mobil's contractual purpose.
C.Mobil could not claim an anticipatory repudiation because even though as new law had been passed, they had not yet filed their oil excavation plan so they could not know whether they were facing a problem.
D.Mobil could not claim an anticipatory repudiation because even though as new law had been passed, it did not substantially change the terms of the original contract.
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A.accord and satisfaction.
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