The ________ Is a Duty Owed by a Member of an LLC

question 31

Multiple Choice

The ________ is a duty owed by a member of an LLC to not act adversely to the interests of the LLC.

• A)duty of discharge
• B)duty of restitution
• C)duty of loyalty
• D)duty of resolution

---

Definitions:

Misrepresentation

A false or misleading statement that induces another to enter into a contract or transaction.

Rescission

The act of voiding a contract and returning all involved parties to their original positions as if the contract had never existed.

Equitable Remedies

Legal remedies other than monetary compensation, including injunctions and specific performance, typically granted when money damages are not sufficient.

Plaintiff

The person or entity who initiates a lawsuit by filing a complaint with a court against a defendant.