Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Mary is a member of a manager-managed LLC but is not a manager. However, Mary has considerable expertise in the business of the LLC. Mary

Mary is a member of a manager-managed LLC but is not a manager. However, Mary has considerable expertise in the business of the LLC. Mary assisted the managers for the first couple of years of the LLC's existence without any difficulties. During the third year, Mary began to challenge some of the decisions made by the managers who had begun to shut Mary out of most decisions. Mary demands that as a member of the LLC she be allowed to participate in its management and that she be compensated for the services she is providing. In this case:

a.Mary cannot demand a continued management role, but is entitled to compensation for the services already delivered.

b.Mary will be allowed to participate in management and is entitled to compensation.

c.Mary is not entitled to participate in management, nor is she entitled to compensation.

d.Mary will be allowed to participate, but is not entitled to any compensation.

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

Law Express Criminal Law

Authors: Emily Finch, Stefan Fafinski

8th Edition

1292295414, 978-1292295411

More Books

Students also viewed these Law questions

Question

What is meant by baseline in a single-case design?

Answered: 1 week ago

Question

Why is it important to have a dream? (p. 49)

Answered: 1 week ago

Question

1. What does this mean for me?

Answered: 1 week ago