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Question
Glen is starting a small bakeryHealthy Breadsand is considering whether to organize the business as a limited liability company or a limited liability partnership. Both formsa. are subject to the same flexibility restrictions as S corporations.
b. do not limit their owners' personal liability for business debts.
c. limit their owners' personal liability for business obligations.
d. obviate the need to obtain insurance for business liability risks.
Answer
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Fact Pattern 41-1
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Fact Pattern 41-1
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