The Members, Managers, and Agents of a Limited Liability Company

question 18

True/False

The members, managers, and agents of a limited liability company are liable for its obligations by virtue of their status.

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Definitions:

Piliavin

A reference to Irving Piliavin, a social psychologist known for his research on prosocial behavior, including the bystander effect.

Prosocial Behaviour

Actions intended to benefit others, including behaviors like helping, sharing, and comforting.

Self-Interest

The pursuit of personal advantage, benefit, or well-being, often regarded as a primary motivator in human behavior.

Perspective Taking

The act of viewing situations or understanding concepts from an alternative point of view.