If a Covered Member or Manager of a Limited Liability

question 52

True/False

If a covered member or manager of a limited liability company commits an ordinarily negligent act that is not grossly negligent,he or she is not liable to the LLC.

---

Definitions:

Total Surplus

The sum of consumer surplus and producer surplus, representing the total net benefit to society from a market transaction.

Equilibrium Price

A market condition where supply meets demand, and there is no inclination for price to change, leading to market balance.

Mutually Beneficial Trades

Exchanges that occur when all parties involved gain benefits or profits from the transaction.

Total Surplus

The sum of consumer surplus and producer surplus in a market, representing the total net benefit to society from trade.