Coco Is Considering Forms of Business Organization for Her Concessions

question 4

Multiple Choice

Coco is considering forms of business organization for her concessions business-Coco's Cupcakes. Most states require that a limited liability company have

• A) no minimum number of members.
• B) at least one member.
• C) at least two members.
• D) at least three members, including at least one general partner.

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Definitions:

Public Purpose

The legal justification for government actions aimed at benefiting the community or public at large.

Just Compensation

Compensation that is fair and adequate, especially in the context of eminent domain where property is taken for public use.

CISG

The United Nations Convention on Contracts for the International Sale of Goods is a treaty designed to create a consistent legal framework for international trade.

UCC

Stands for Uniform Commercial Code, a set of laws that govern commercial transactions in the United States.