Question: Juan Min Yi and Chelsea form Unlimited LLC a limited
Juan, Min Yi, and Chelsea form Unlimited, LLC, a limited liability company that operates a chain of women’s retail clothing stores that sell eclectic women’s clothing. The company is a manager managed LLC, and Min Yi has been designated in the articles of organization filed with the secretary of state as the manager of Unlimited, LLC. Min Yi sees a store location on Rodeo Drive in Beverly Hills, California, that she thinks would be an excellent location for an Unlimited Store. Min Yi enters into a five year lease on behalf of Unlimited, LLC, with Landlord, Inc., the owner of the store building, to lease the store at $ 100,000 rent per year. While visiting Chicago, Chelsea sees a store location on North Michigan Avenue in Chicago that she thinks is a perfect location for an Unlimited store. Chelsea enters into a five year lease on behalf of Unlimited, LLC, with Real Estate, Inc., the owner of the store building, to lease the store location at $ 100,000 rent per year. Is Unlimited, LLC, bound to either of these leases?
Relevant QuestionsAlly is a member and a manager of a manager managed limited liability company called Movers & You, LLC, a moving company. The main business of Movers & You, LLC, is moving large corporations from old office space to new ...The Southland Corporation (Southland) owned the 7 Eleven trademark and licenses franchisees to operate convenience stores using this trademark. Each franchise is independently owned and operated. The franchise agreement ...Continental Enterprises, Inc. (Continental), had 2,510,000 shares of stock issued and outstanding. Louis E. Wolfson and members of his immediate family and associates owned in excess of 40 percent of those shares. The ...Kaiser Aluminum & Chemical Corporation entered into a collective bargaining agreement with the United Steelworkers of America, a union that represented employees at Kaiser’s plants. The agreement contained an affirmative ...The Reserve Mining Company (Reserve) owned and operated a mine in Minnesota that was located on the shores of Lake Superior and produced hazardous waste. Reserve obtained a permit from the state of Minnesota to dump its ...
Post your question