Note: a paragraph is at least 3 healthy sentences as a rule-of-thumb, and more importantly you should answer thoroughly so that each question is fully answered.I do not deduct for spelling or grammar issues.Use the class recordings to help formulate your answers (class recordings tab to the left).No need to cite the book.

(Chapters 16 and 17)

1.Describe the three classifications of franchises--remember to use your own words/detail/examples per the instructions.

2. Discuss when and how members of an LLC can lose their limited personal liability as described in the book (meaning, when personal liability can be imposed on members of an LLC).

3. Discuss the different ways dissolution can come about for an LLC.

4. Discuss the process of "winding up" when an LLC is dissolved.