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Kay [80]
1 year ago
14

an operating agreement is required for a limited liability company to exist, and it must be in writing. true false

Business
1 answer:
puteri [66]1 year ago
3 0

An operating agreement is required for a limited liability company to exist, but it need not be in writing.

A limited liability company's (LLC) operating agreement is a crucial document that outlines the company's financial and operational decisions, as well as its rules, laws, and requirements. The document's goal is to regulate the company's internal operations in a way that meets the unique requirements of the owners, referred to as "members," of the company. The limited liability company's members are legally obligated to abide by the conditions of the instrument once they have signed it. Only three states—California, Missouri, and New York—have laws requiring an operating agreement. The state's default norms, established by state court decisions and found in the applicable statute, apply to LLCs operating without an operating agreement.

Learn more about operating agreement here:

brainly.com/question/12958233

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Assume that Jack, Hal, and Sophia enter into a written contract for the sale of the restaurant, including the building and all o
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Answer:

A. Jack cannot bring in the evidence of the oral agreement because of the Parol Evidence Rule.

Explanation:

The Parol Evidence rule is a rule in the Anglo-American common law that governs or determines the types or kinds of evidence that parties to a contract dispute can introduce when trying to determine the specific terms of a contract.

The rule also prevents introduction of further evidences by a party after a final written document or agreement has been reached. Things such as the content of oral discussions from earlier in the negotiation process, as evidence of a different intent as to the terms of the contract. The rule states that "extrinsic evidence is inadmissible to vary a written contract". The term " patrol" refers to "word of mouth" hence it is referred to oral pleadings in a court case.

Therefore from the question, Jack cannot bring in evidence of oral agreement into the court for evaluation because of Patrol Evidence Rule.

6 0
3 years ago
Starting the next task before the first task is complete is _____ Group of answer choices slack lead negative lead float lag
Charra [1.4K]

Starting the next task before the first task is complete is lead.

In the eyes of some businesses, a "lead" is a contact that has already been identified as a potential client, whereas for other businesses, a "lead" is any sales contact. However, a lead's potential to become a future client is the same regardless of how it is defined.

A lead is, to put it simply, a person or group who is interested in what you are selling. Contact details are shared, such as an email address, a phone number, or even a social network account, to demonstrate the interest.

Learn more about Lead here brainly.com/question/5687830

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6 0
2 years ago
A company reported that its bonds (a long-term liability) with a par value of $50,000 and a carrying value of $61,000 are sold f
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Answer:

c and e

Explanation:

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Pick a product of your choice and to trace the channel(s) of distribution for that product as far back as is feasibly possible.
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Answer:

d) Contractual non-compliance provisions are broader in scope.

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Both common law and civil law were originated in western Europe. Common law comes from medieval England while civil law comes from ancient Roman Empire. Common law is more flexible than civil law, so that allows different interpretations of the law. Since civil law is more rigid, contractual non-compliance provisions must include all possible contingencies and their outcomes.

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