In a State in Which the Managers of a Limited

question 32

True/False

In a state in which the managers of a limited liability company owe fiduciary duties to the firm and its members, those members can sue the managers for breaching a fiduciary duty.

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Definitions:

Written Warranty

A guarantee, in written form, regarding the condition of a product and the maker's commitment to repair or replace defective parts within a certain period.

Designated

Assigned or appointed for a specific purpose or position.

Express Warranty

A warranty made in words, either oral or written.

Express Warranty

A written guarantee provided by a seller about the quality or nature of a product, promising specific standards or conditions.