Author Question: Most limited liability companies have statues that state that: a. only one member will be ... (Read 121 times)

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

Most limited liability companies have statues that state that:
a. only one member will be personally liable for the debts of the company
b. no member or manager will be personally liable for the debts of the company
c. no more than two members or managers will be personally liable for the debts of the company d. all members and managers will be personally liable for the debts of the company
e. none of the other choices are correct

Question 2

The primary purpose of the Truth-in-Lending Act is to provide disclosure of basic information about the cost and terms of credit to consumer-borrowers.
a. True
b. False
Indicate whether the statement is true or false