Question: 1 , Multiple Choice 1 point Ten years ago, Ben formed Make It Right LLC with two of his friends,Luke and Jason. They were involved

1, Multiple Choice 1 point
Ten years ago, Ben formed Make It Right LLC with two of his friends,Luke and Jason. They were involved in real estate, buying run-dowr properties and repairing and then selling them for a higher price. Ben decides to get out of the business. Ben has not discussed this with the two other members of Make It Right LLC but has already negotiated the sale of both his economic interests and ownership rights to Makayla. Can Ben do this?
No, members can transfer their economic interests without limitation but transferring ownership interests requires unanimous consent of other members of the LLC.
Yes, in an LLC, members have the right to sell their ownership interests and transfer their economic interests in the LLC without limitation.
20
No, members can transfer their ownership interests without limitation but transferring economic interests requires unanimous consent of other members of the LLC.
No, members of an LLC cannot transfer or sell their interests until the LLC is dissolved.
 1, Multiple Choice 1 point Ten years ago, Ben formed Make

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!