An Operating Agreement Is a Document That States the Terms

question 60

True/False

An operating agreement is a document that states the terms for converting an existing business to a limited liability company.

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Definitions:

Categorical Proposition

A logical statement that relates two categories or classes in terms of inclusion, exclusion, or partial inclusion.

Universal

In logic, a universal statement is one that asserts something about every member of a particular category.

Negative Premise

A statement in an argument that denies a certain condition or asserts the absence of something.

Affirmative Conclusion

A conclusion that positively asserts the relationship between the subject and the predicate, rather than negating it.