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

question 49

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 reversed the trial court's decision to grant King's requests because:

• A) there was not sufficient evidence that the LLC could not effectively operate under the operating agreement
• B) there was sufficient evidence that the LLC could not effectively operate under the operating agreement
• C) there was not sufficient evidence that the LLC could effectively operate under the operating agreement
• D) the operating agreement specified that one manager could not dissolve the LCC
• E) the operating agreement gave King only a 49% share of power, so he could not dissolve the company

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Definitions:

NFC

Near Field Communication, a set of communication protocols that enable two electronic devices, one of which is usually a portable device such as a smartphone, to establish communication by bringing them within 4 cm of each other.

VPN

A Virtual Private Network is a technology that establishes a secure and encrypted connection across a less secure network, like the internet.

Open Source

Software with source code that can be inspected, modified, and enhanced by anyone, promoting collaborative software development.