George, Phil, and Graham own a tract of land that they want to use to create a planned community. They would all like an equal say in the project, but they also want limited liability in case the development does not do well. Which of the following business structures will give them what they want?

Question

Quizplus · Accepted Answer

A Limited Liability Company (LLC) allows all members to have an equal say in the business while also providing them with limited liability protection. This means that their personal assets are protected if the business faces legal issues or debts.

George, Phil, and Graham Own a Tract of Land That