Examlex
Which statement best fits the figure below?
LLC Statue
Probably intended to be "LLC Statute," which refers to the laws that govern the formation, operation, and dissolution of Limited Liability Companies.
Dispute Resolution
The process of resolving disagreements or conflicts between parties through negotiations, mediations, arbitrations, or legal proceedings.
Personal Liability
The legal responsibility of an individual to settle debts or legal claims using personal assets.
Limited Liability Company
A firm's structure that integrates the aspect of limited liability similar to a corporation with the pass-through tax benefit akin to that of a partnership or sole proprietorship.
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