In States Where an LLC May Be Organized by Only

question 22

Multiple Choice

In states where an LLC may be organized by only one member,________ can obtain the benefit of the limited liability shield of an LLC.

• A) LLPs
• B) sole proprietors
• C) S corporations
• D) C corporations

Understand the principles of product liability law.

Identify the defenses available in a strict product liability case.

Analyze the role of negligence in product liability claims.

Evaluate the impact of design defects, warning defects, and manufacturing defects on product liability.

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Definitions:

Americans with Disabilities Act

A civil rights law that prohibits discrimination based on disability.

Employment Discrimination

Unfair treatment of employees or job applicants based on race, gender, age, religion, or other protected characteristics.

S Corporation

A type of corporation designed for small businesses where profits and losses can be passed through to the owner's personal tax return, avoiding double taxation.

Taxed

Refers to the imposition of financial charges or levies on an individual or entity by a governmental organization in order to fund various public expenditures.