Solved

Eric Is a Member of a Manager-Managed LLC but Is

Question 76

Multiple Choice

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
B) loyalty and care
C) loyalty,care,and good faith and fair dealing
D) good faith and fair dealing
E) none of these

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents