Powers and rights of members and managers of limited liability companies · Bar Exam · Flashcards

QUESTION

In a manager-managed LLC, a member who holds no manager role signs a supply contract in the company's name. On what basis, if any, is the LLC bound?

QUESTION

In a three-member member-managed LLC, two members vote to buy routine office supplies over the third member's objection. What is the effect of the vote?

QUESTION

In a manager-managed LLC, a member who holds no manager role signs a supply contract in the company's name. On what basis, if any, is the LLC bound?

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