Number 26

25. bennis is a partner in the Smile Clinic. Dennis applies for a loan Bank allegedly on the firm's behalf but without the express authorization of t other partners. If Dennis defaults on the loan, liability for its unpaid amount will be imposed on a. Dennis only b. the clinic. c. Dennis and the clinic. d. Dennis, the other dentists, and the clinic. 26. Ann, Bob and Carl form ABC LLC, a landscape design business. Sadly, the LLC is sued because Bob accidently planted the very poisonous Pottey Plant at the Gate's house and all the Gates children were hospitalized. When the Gates sued a. Only Bob is personally liable. b. Ann, Bob, Carl and the ABC LLC are jointly and severally liable. c. Ann, Bob, and Carl may be liable only to the extent of their capital investment. . No one is liable because the LLC is a separate legal entity. 7. StartUp Investors, LLC, is a limited liability company without a written operati greement. Among the members, a dispute arises concerning the division of profit nder most LLC statutes, the profits will be distributed according to the members' proportionate shares of ownership in t