Author: Anonymous

Beth and Carol want to form a limited liability company to manage their business, DoReMi Music. Their state has adopted the Uniform Limited Liability Company Act, which has been adopted in​

Quisa and Reilly are partners in Sport Bikes, which rents and sells bikes, bike accessories, and related gear. Quisa manages the business. Unless the partnership agreement states otherwise, Quisa is

Many states permit a corporate board to have fewer than three directors.

The date when the principal of a bond is returned to the investor is the maturity date.

Stefani and Tyler agree in an exchange of e-mail to form a partnership to buy and sell real property. Their partnership agreement is legally binding

A court will pierce the corporate veil of a corporation when the corporate privilege is abused for personal benefit.

A corporate director “owns” the corporation.

Limits on a partner’s authority normally are effective only with respect to third parties who are notified of the limitation.​

Western Rodeo LLC is a limited liability company (LLC). Like other LLCs, for federal jurisdictional purposes, Western Rodeo is most likely a citizen of

Limited legal liability generally is necessary for small businesses that wish to raise outside capital.