In in Re 1545 Ocean Avenue, LCC, Where the Two

question 342

Multiple Choice

In In re 1545 Ocean Avenue, LCC, where the two managers of a real estate development limited liability company disagreed about the project and one of the managers, King, sued for work to stop and the company to be dissolved, the appeals court held that:

• A) there was sufficient evidence that the LLC could not effectively operate under the operating agreement so the trial court's decision to grant King's requests was correct
• B) there was sufficient evidence that the LLC could not effectively operate under the operating agreement so the trial court's decision to grant King's requests was not correct
• C) there was not sufficient evidence that the LLC could not effectively operate under the operating agreement so the trial court's decision to grant King's requests was correct
• D) there was not sufficient evidence that the LLC could not effectively operate under the operating agreement so the trial court's decision to grant King's requests was not correct
• E) none of the other choices are correct

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Definitions:

Granting Claims

The process of acknowledging or approving requests, rights, or privileges, often in legal or administrative contexts.

Company Fault

A situation where a business is responsible for a mistake, problem, or issue, often leading to negative consequences.

Response Correct

An accurate or appropriate reply to a question or situation.

Personal Responsibility

The obligation to hold oneself accountable for one's own actions, decisions, and their consequences.