Chocolate Sundry LLC's Members and Managers Are Devlin,Effie,and Flavia

question 22

Multiple Choice

Chocolate Sundry LLC's members and managers are Devlin,Effie,and Flavia.After Devlin's relationship to the firm ends,Effie and Flavia agree to discontinue the business.This is

• A)illegal.
• B)optional.
• C)required.
• D)wrongful.

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Definitions:

Real Estate Law

The body of laws governing property ownership, leasing, buying, selling, and development.

Real Estate Transactions

The process of transferring property rights from one party to another, which can involve buying, selling, leasing, or renting of land or buildings.

Law Firm

A business enterprise formed by one or more lawyers to engage in the practice of law, providing legal services to clients.

Corporation

A legal entity that is separate and distinct from its owners, which can own property, enter into contracts, sue and be sued.