Question

Tyler and Stanton are members of an LLC. They have no operating agreement. Tyler and Stanton have a dispute. They look to the LLC statute for an answer, but the LLC statute does not cover this situation either. In this case, courts often:
a. apply state corporate law
b. order the LLC to dissolve
c. apply state partnership law
d. force the members to solve the dispute themselves

Answer 1

Answer:

C) Apply state partnership law

Explanation:

The partnership law covers many key points that help a person in the partnership.  

• The definition of the term and conditions

• The date and time record when the partnership exists.  

• The registration of the partnership that is done with state agencies.  

• The relationship and behavior of the partner with their partnership

• To show the relationship of a partner to the third party

• The change and termination of the partnership.