Question
ned and sarah formed an llc to buy and renovate apartment buildings. they did not sign an operating agreement but they orally agreed that they
ned and sarah formed an llc to buy and renovate apartment buildings. they did not sign an operating agreement but they orally agreed that they would dissolve the llc if they could not get along. the two owners argued repeatedly and ned refused to meet with sarah, although he was willing to take her phone calls. ned continued to work on the renovation that was then underway. sarah asked a court to dissolve the llc. Under state law, an llc without an operation agreement could only be dissolved in (1) the management of the entity is unwilling to reasonably promote the stated purpose of the entity or (2) continuing the entity is financially unfeasible. what result in sarah's lawsuit? what is the moral of this story?
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