Author Question: In In re 1545 Ocean Avenue, LCC, where the two managers of a real estate development limited ... (Read 44 times)

corkyiscool3328 · **on:** Jun 24, 2018

In In re 1545 Ocean Avenue, LCC, where the two managers of a real estate development limited liability company disagreed about the project and one of the managers, King, sued for work to stop and the company to be dissolved, the appeals court reversed the trial court's decision to grant King's requests because:
a. the operating agreement gave King only a 49 share of power, so he could not dissolve the company
b. there was sufficient evidence that the LLC could not effectively operate under the operating agreement c. there was not sufficient evidence that the LLC could effectively operate under the operating agreement d. the operating agreement specified that one manager could not dissolve the LCC
e. none of the other choices are correct

Question 2

Under the Truth-in-Lending Act, a creditor who violates disclosure rules may have to pay the consumer double the finance charged owed by the consumer (up to 1,000) plus attorney fees and court costs.
a. True
b. False
Indicate whether the statement is true or false