A(n) ________ Is Created When Members for an LLC Decide

question 59

Multiple Choice

A(n) ________ is created when members for an LLC decide to form and create their organization.

• A) operating agreement
• B) shareholders agreement
• C) member contract
• D) corporate agreement
• E) partnership agreement

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Definitions:

Implied Bailment

A situation where possession of property is transferred without explicit agreement, with an understanding that the property will be cared for and returned.

Unlocked Locker

A storage unit or compartment that is not secured with a lock, potentially exposing contents to theft or unauthorized access.

Cell Phone

A portable, wireless telephone for making calls over a cellular network, not restricted by physical connection lines.

Confusion

A lack of clarity or understanding, often leading to errors or misinterpretation.