A limited liability company is a form of unincorporated business association that blends the advantages of both general and limited partnerships, because all its members may have limited liability and all may participate in management and control without loss of limited liability.

The purpose of an agency relationship is to allow principals to extend their business activities.

A partner’s liability for partnership debts is limited to his capital contribution.

A foreign limited liability company:

Utility patents require which of the following elements?

As a general rule, a person may do through an agent whatever business activity he may accomplish personally.

A foreign limited liability company:

Adrianne may form a limited liability company by filing articles of organization in a designated state office, even if she is the only member of the company.

Sam is a sales representative for the INC Corporation. Sam has a terrible driving record and has had his driver’s license revoked, but nevertheless he continues to drive the company car for his job. One day he drives too fast for conditions, goes through a red light, and strikes a pedestrian. The accident happened despite the fact Sam’s supervisor at INC had repeatedly reprimanded him and advised him to drive more cautiously. INC has:

Roberts, Smith, and Tomas have been partners for ten years. The partners, however, are now collecting debts, converting assets to cash, paying creditors, and distributing remaining assets to each partner. Roberts, Smith, and Tomas are engaged in: