Flip is a member of Great States Trucking LLC.Flip's relationship to Great States ends,but the firm continues to do business.This is

Question

Quizplus · Accepted Answer

Dissociation refers to a situation where a member/owner of an LLC leaves the business while the company continues to operate. In this case, Flip is leaving Great States, but the company is still doing business. Therefore, the most appropriate answer is dissociation.

Option B is incorrect because dissolution means that the LLC is terminated and its assets are distributed to the owners. However, in this case, the company is continuing to operate.

Option C is also incorrect because winding up is the process of settling the company's business affairs after dissolution.

Option D is incorrect because there is no indication of any wrongful conduct in the scenario given.

Flip Is a Member of Great States Trucking LLC