Examlex
Unlimited liability means that the act of a single partner is binding on all the other partners.
Legal Violations
Acts or omissions that breach the law, subjecting the violator to legal sanctions, penalties, or legal proceedings.
Wrongdoing
Actions or behaviors that are illegal, unethical, or morally incorrect.
Current Law
The body of law that is in effect at the present time, governing contemporary legal issues and society.
Member-managed LLC
A limited liability company governed by its members rather than designated managers, with members actively involved in decision-making.
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