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1. Who are the owners of a limited liability company? A. members C. shareholders B. managers D. partners 2. What is the governing document of

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1. Who are the owners of a limited liability company? A. members C. shareholders B. managers D. partners 2. What is the governing document of a corporation? A. operating agreementC. partnership agreement B. bylaw:s D. trade name certificate 3. Strict liabilityl cases might involve which of the following? A. defective products C. wild animals B. abnormally dangerous activities D. A, B, and C 4. Entrusting personal property to another for a specific purpose is a: A. bailment C. surety B. tort D. A, B, and C 5. You own a coffee shop called Lucy's Lattes, LLC. You hire ABC Construction as an independent contractor to build a new terrace. A customer is injured while crossing the unfinished terrace. Who is liable for the customer's injuries? Lucy's Lattes, LLC Lucy's Lattes, LLC and the independent contractor the independent contractor none of the above B. 6.Which business form provides the most protection from potential liability? A. corporation C. general partnership B. sole proprietorship D. Neither A, B, nor C

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