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Question
Several people have decided to go into business as an LLC. To cover all contingencies, specifying what will constitute an act of dissociation and specifying the procedures upon dissolution would be included in the:A.certificate of organization.
B.operating agreement.
C.Uniform Limited Liability Company Act.
D.common law because the members may not negotiate these rights.
Answer
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Related questions
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Which of the following involves a third party substitution?
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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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Each of the following is a discharge by mutual consent except:
A.accord and satisfaction.
B.novation.
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D.frustration of purpose.
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Q:
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Q:
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B.An agreement to sell of a car for $1,500.
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Q:
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Q:
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Q:
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