Reba and Sly Enter into a Contract by Which Reba

question 37

Multiple Choice

Reba and Sly enter into a contract by which Reba promises to deliver newly printed marketing brochures to Sly.Reba later transfers her duty under the contract to Troy.Reba is

• A)a delegator and an obligor.
• B)a delegator only.
• C)an obligor only.
• D)neither a delegator nor an obligor.

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Definitions:

LLC Contracts

Legal agreements that are specifically related to or entered into by a Limited Liability Company (LLC).

ULPA

An acronym for "Uniform Limited Partnership Act," which is a statute that sets forth the legal rules and regulations governing limited partnerships in various jurisdictions.

Expel

Expelling refers to the action of forcing someone or something out of a place or situation.

Limited Partnership

A business structure where some partners have limited liability and limited involvement in the management of the company.