Some States Provide That in the Absence of an Agreement

question 33

True/False

Some states provide that in the absence of an agreement to the contrary each member of a limited liability company has one vote.

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Definitions:

Truth In Lending Act

A U.S. law designed to promote informed use of consumer credit by requiring disclosures about its terms and cost.

Terminate Credit Plan

The process of ending a credit agreement, closing the account, and settling any outstanding debts.

Home Equity Loan

A type of loan in which the borrower uses the equity of their home as collateral.

Material Misrepresentations

False statements or omissions of facts that are significant enough to influence an individual's decision to enter into a contract or transaction.