Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

76) Burt has gone to a commercial bank to negotiate a loan for the LLC in which he is a member. He tells the bank

image text in transcribed
76) Burt has gone to a commercial bank to negotiate a loan for the LLC in which he is a member. He tells the bank that he is authorized to act on behalf of and to bind the company. What is the best way for the bank to verify whether Burt does in fact have the authority he claims? A) Check the articles of organization. B) Call another member of the LLC for confirmation. C) Get him to sign a written statement. D) Nothing need be done because all LLC members have the right to bind the company, as do general partners

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Employment Law New Challenges In The Business Environment

Authors: John Moran

6th Edition

978-0133075229

More Books

Students also viewed these Law questions

Question

Answered: 1 week ago

Answered: 1 week ago