1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
faust18 [17]
3 years ago
9

Zack, Gavin and Breana were college friends who decided to go into business together as a party equipment rental service. The th

ree budding entrepreneurs formed as equal owners a Limited Liability Company (LLC) named "Parties R Us." The written operating agreement gave only Zack the authority to manage the business, hire and fire employees, and purchase equipment. Zach contributed to the LLC his knowledge in the party business (his family had owned a similar company), and Gavin and Breana each contributed $100,000 capital. Over the next year, Zack ran the business, but he did not consult with Gavin and Breana, and no meetings were held. When Gavin and Breana asked what was going on with the company, Zack said he was too busy to talk about it. At the end of the first year, despite Zack's best efforts, the LLC's cash was depleted and its liabilities significantly exceeded its assets. To make matters worse, a defective parties r us tent had collapsed Into a wedding group, causing serious injuries. One of the wedding guests, Margaret, sued the LLC and received a $500,000 judgement against them. Because the LLC cannot pay Margaret, is it likely that Zack, Gavin, and Breana will be held personally liable for the judgment?a. yes, because the LLC was the owners' "alter ego."b. yes, because the LLC was undercapitalized.c. no, because the LLC was an entity independent from its owners.d. yes, because they didn't follow LLC formalities, such as holding meetings.
Business
1 answer:
damaskus [11]3 years ago
8 0

Answer:

im not sure what the answer wold be but you woulkd if you actually did your own work but its b

Explanation:

You might be interested in
A skill you will use in your writing, way of thinking, evaluating conversations, and in daily encounters with others is?
elixir [45]

A skill you will use in your writing, way of thinking, evaluating conversations, and in daily encounters with others is communication skill.

Communication is the act of transferring information from one place to another. It can be done vocally i.e by using voice, written by using printed or digital media such as books, magazines, websites and  emails, visually by using logos, maps, charts or graphs or can be non-verbally by using body language, gestures and the tone and pitch of voice.

Communication skills may take a lifetime to master in it. There are many things that you can do easily to improve your communication skills and ensure that you are able to transmit and receive information effectively.

To know more about communication skills here:

brainly.com/question/12041113

#SPJ4

5 0
1 year ago
M purchases a $70,000 Life Insurance Policy with premium payments of $550 a year for the first 5 years. At the beginning of the
MaRussiya [10]
<span>This is a modified premium life insurance policy. In this case, the premium (the price paid for the insurance during each time period) is fixed for a specific frame (at rates that are usually lower than average), but then (usually) increases after a certain number of months or years to a rate greater than the average.</span>
8 0
3 years ago
An example of foreseeable damages from a faulty repair of your car that led to an accident would be __________. your loss of a w
OLga [1]

Answer:

the cost to repair your vehicle, as well as all damage to other vehicles involved in the accident.

Explanation:

A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.

There are different types of contract in business and these includes: fixed-price contract, cost-plus contract, bilateral contract, implies contract, unilateral contract, adhesion contract, unconscionable contract, option contract, express contract, executory contract, etc.

A foreseeable damage can be defined as a any form of damage that the parties to a contract knew or took note of at the time when they were signing an agreement to the contract. Thus, it is the ability of an individual to reasonably anticipate the likelihood of damage or potential injury in a given circumstance such as an accident.

This ultimately implies that, foreseeable damages involves the ability of a reasonable individual to anticipate the potential results of his or her actions such as damage or injury to another person due to the refusal to repair a faulty car.

An example of foreseeable damages from a faulty repair of your car that led to an accident would be the cost to repair your vehicle, payment of hospital bill for the injured, including the damage to other vehicles that were involved in the car accident.

5 0
3 years ago
Any christian guys wanna be friends?
Mumz [18]
Sure brother



How are you
6 0
3 years ago
Read 2 more answers
A decrease in the supply of a good can be expected to cause ____ in the equilibrium price of the good and ____ in the equilibriu
JulsSmile [24]

Answer:

Increase, Decrease

Explanation:

A decrease in the supply results in many buyers competing for very few goods. If the demand is constant, the quantity supplied and price have an indirect relationship. A decrease in the volume of supplied results in an increase in price. Many buyers will be competing for a few products causing the equilibrium price to increase.

A decrease in supply will cause the quantity available for buyers to buy to decline. Consequently, the volume purchased will be fewer.  Equilibrium quantity will, therefore, decrease.

4 0
3 years ago
Other questions:
  • When a firm expects rapid imitation of its core technology by competitors, what should it do? A. Revert to old technologies B. O
    8·2 answers
  • A study sponsored by the american medical association suggests that the absolute value of the own price elasticity for surgical
    8·1 answer
  • There are normally eight steps in the troop-leading process. what is step eight?
    12·1 answer
  • Nichols Enterprises has an investment in 26,000 bonds of Elliott Electronics that Nichols accounts for as a security available f
    8·1 answer
  • Cecil Jameson, Attorney-at-Law, is a proprietorship owned and operated by Cecil Jameson. On July 1, 2007, Cecil Jameson, Attorne
    10·1 answer
  • After the company has defined its channel​ objectives, it should next identify its major channel alternatives in terms of the ty
    8·1 answer
  • A man decides to buy a horse. He pays 60 dollars for the animal. After a year, the value of the horse has increased to 70 dollar
    12·1 answer
  • Bond J has a coupon rate of 5 percent and Bond K has a coupon rate of 11 percent. Both bonds have 14 years to maturity, make sem
    13·1 answer
  • Umay oh ito para sa mga taong di makuha si CRUSH
    14·2 answers
  • Liz has set up a new employee with Standard user access but has unchecked the Payroll access box. Which part of QuickBooks Onlin
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!