Bravo and Cox are 50/50 owners of Great Crepe LLP (GCL), a food truck business specializing in crepes. GCL’s partnership agreement provides, among other things, that any expenditure by the partnership in excess of $500 requires the unanimous approval of the partners. While having new tires put on her car at a tire shop, Bravo spots a sweet set of rims that she feels would be perfect for the GCL food truck and that are marked down by 40% to $600. Not wanting to miss out on such a great deal, she commits to buy them on behalf of GCL and makes an appointment for the next day to have them installed on the truck. Bravo tells Cox about the rims. Cox is against getting them so tells Bravo to cancel the deal. Is GCL bound on the transaction? Assume RUPA applies.

A Shooting Script does what?

Ivanka and Jared are starting a new LLC for the family licensing business, and they want to add the following provision to the LLC Agreement: “Notwithstanding anything in this Agreement to the contrary, no Member or Manager shall owe any fiduciary duties to the Company or any Members.” Is the provision valid?

The shareholders of Poodleclub prevails on the merits in a lawsuit against Ginger, a director of PoodleClub, in a breach of fiduciary duty claim brought on behalf of PoodleClub for the sale of Ginger’s Salvador Dali collection to PoodleClub for more than fair market value.  Ginger incurs $300,000 in legal fees defending the case and is ordered by the court to pay PoodleClub $500,000, because that is the amount the court determined PoodleClub overpaid for the collection.  Assume PoodleClub is incorporated in Delaware.  Assume Ginger and PoodleClub are not parties to an indemnification agreement.  Is PoodleClub required to indemnify Ginger?

Which of the following is a difference between a corporation and a limited liability company (LLC)?

A+ Plumbing defaults on a $20,000 equipment loan it took shortly after Remy’s investment.  Which of the following statements is true with respect to the loan?

Choose the statements below that are TRUE relating to head and neck cancer and dysphagia, as presented in the lecture and text. 

What does the phrase “the legal effect of interpretive authority” mean? (5 points)  

For each of the options below, determine whether the suit would be a direct suit by a shareholder: The Certificate of Incorporation of BLUE DEVIL Corp. requires the corporation to pay Class A shareholders twice the dividend of Class B shareholders. This year, however, BLUE DEVIL Corp. paid the same amount of dividends to shareholders of both classes. Anderson, a Class A shareholder, sues. Birkenstock is a director of BLUE DEVIL Corp. He is also the sole shareholder of LONGHORN Co. BLUE DEVIL agrees to buy LONGHORN for $5 million. Croc is a shareholder of BLUE DEVIL and thinks BLUE DEVIL is overpaying for LONGHORN. She sues Birkenstock and the other board members of BLUE DEVIL for breach of fiduciary duties.  The board of directors of BLUE DEVIL Corp. entered into a merger transaction with Hatters Corp. . Under the terms of the merger agreement, BLUE DEVIL Corp. merged into Hatters Corp. and the shareholders of BLUE DEVIL were cashed out at $55 per share. After the merger had been completed, Tuba, a shareholder of BLUE DEVIL, was unhappy with the transaction, believing that the company was worth substantially more than $55 per share. As a result, she sues the board for breach of its fiduciary duty. Ranum, the CEO of Matrix Development Inc. (MDI), purchased a parcel of property adjoining a shopping center owned by MDI. Porch, a shareholder of MDI, is unhappy with the transaction and sues Ranum for breach of fiduciary duty. Chumba Inc. is fined $100 million by the EPA for dumping hazardous waste. Ralston, a Chumba stockholder, sues the Chumba board for failure to provide adequate oversight.

Essential Elements for All Storyboards are: Composition, Perspective, Camera, and Communicate a figure’s action.