Which of the Following Can Provide a Structure That Facilitates

question 68

Multiple Choice

Which of the following can provide a structure that facilitates investments in socially beneficial, for-profit ventures?

• A)S corporation
• B)low-profit, limited liability company (L3C)
• C)limited partnership
• D)limited liability partnership

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Definitions:

Misrepresentation

A false statement of fact made by one party to another party, which has the effect of inducing that party into a contract.

Legal Action

A formal proceeding by which a party seeks to enforce or protect a legal right through a court of law.

Mutual Mistake

A legal concept where both parties involved in a contract have a shared misunderstanding about a critical fact of the contract.

Unilateral Mistake

Occurs when one party to a contract is mistaken about a basic assumption on which they made the contract, and the other party either knows or has reason to know of the mistake.