Tim Everest and Quinn Rider formed an LLC for the purpose of investing and managing commercial real
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Everest submitted the LLC articles to the secretary of state, who filed the articles. After the LLC was formed, Everest operated the LLC as if he were the primary manager, excluding Rider from most of the day-to-day investment and management decisions of the LLC. When Rider protested, Everett showed him the LLC’s articles of organization, which clearly stated that the LLC was manager-managed, with Everest listed as the sole manager. Rider argued that as a member of the LLC, he had the inherent right to manage the LLC. Was Rider correct?
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Related Book For
Business Law The Ethical Global and E-Commerce Environment
ISBN: 978-0071317658
15th edition
Authors: Jane Mallor, James Barnes, Thomas Bowers, Arlen Langvardt
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