Sandra,Ben,and Farah form an LLC.They designate the LLC as a manager-managed LLC,and name Ben and a friend named Lily as managers.Sandra enters into a contract to lease equipment on behalf of the LLC.Which of the following is true of the given scenario?
A) The LLC is bound to the contract.
B) Ben and Lily are bound to the contract Sandra entered into.
C) Only Ben, as both member and manager, is bound to the contract entered into by Sandra.
D) The LLC is not bound to the contract entered into by Sandra.
Correct Answer:
Verified
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