Real property law exempts mortgages from the usual rules which apply to contracts. True False Which of the following is true of limited liability companies? An LLC cannot be a manager-managed business entity. An LLC cannot enter into contracts under its own name. An LLC can be sued by third-parties as a separate entity. An LLC is a legal entity indistinct from its members. After dissolution, a third person making a contract with the partnership stands in a similar position as a person dealing with an agent whose authority has been revoked. True False