Explaining member of a manager-managed llc

Assignment Help Project Management

Reference no: EM1339535

Q1) Eric is a member of a manager-managed LLC but is not a manager. This LLC invests in real estate and manages it as rental property in a college town. Eric has made several recommendations to the managers regarding property that he considers to be a good buy. Eric, however, seldom performed even the slightest investigation of the property before recommending it to the managing members. Eric also purchased a couple of rental properties on his own account, taking very careful and sneaky steps to ensure that the other members of the LLC did not learn of these purchases. Which duties has Eric violated?

a. Loyalty and care
b. Good faith and fair dealing
c. Loyalty, care, and good faith and fair dealing
d. Loyalty
e. None of these

Reference no: EM1339535

Questions Cloud

Developing a cost schedule for total project cost : Develop a cost schedule for total project cost from finishing in the normal time to maximum crashing, ie. cost to finish in normal time , cost if crashed one week, cost if crashed two weeks, etc. to minimum time to complete.

Determine the expected return : Determine the expected return on a portfolio that is equally invested in two assets

Evaluate capital projects : Of the six key methods used to evaluate capital projects, which one do you prefer?

Good practice to acknowledge limitation of research : Many will argue that it is considered a good practice to acknowledge the limitation of your research/project.

Explaining member of a manager-managed llc : Eric is a member of a manager-managed LLC but is not a manager. This LLC invests in real estate and manages it as rental property in a college town.

Participate in management and entitled to compensation : Lynda will be allowed to participate in management and is entitled to compensation.

Find if the individual had been exposed to this disease : find if the individual had been exposed to this disease.

Preparing a cost of production report : Prepare a cost of production report for July using the FIFO method of the process costing.

What are the restriction enzymes : The DNA sequence of a codon in a gene was changed from AAT to AAC. This type of mutation is known a(n) as.

User Account

All Pages