________ Refer(s)to the Written Application to the State for Permission

question 8

Multiple Choice

________ refer(s) to the written application to the state for permission to form a limited liability company.

• A)Novation
• B)Estoppel
• C)Operating agreement
• D)Articles of organization

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Definitions:

UCC 2A-525(2)

A specific provision within the Uniform Commercial Code, addressing issues related to the leasing of goods and any resultant damages or remedies.

Breach

A violation or infringement of a law, duty, agreement, or trust.

Nonconforming Goods

Products delivered under a contract that fail to meet the specifications or standards agreed upon.

Revocation

Termination of a contract that occurs when an offeror takes back the initial offer and annuls the opportunity for the offeree to accept the offer.