BUSINESS LAW 3E, by Henry RCheeseman制法由亨利R奇斯曼.pptVIP

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2018-06-19 发布于福建
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BUSINESS LAW 3E, by Henry RCheeseman制法由亨利R奇斯曼.ppt

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BUSINESS LAW 3E, by Henry RCheeseman制法由亨利R奇斯曼

Prentice Hall ? 2007 PowerPoint Slides to accompanyThe Legal Environment of Businessand Online Commerce 5E,by Henry R. Cheeseman Chapter 18 Limited Liability Companies and Special Forms of Business Limited Liability Company (LLC) An unincorporated business that combines the most favorable attributes of general partnerships, limited partnerships, and corporations An LLC is a separate legal entity—an artificial person—that can own property, sue and be sued, enter into and enforce contracts, etc. Characteristics of LLCs LLC is taxed as a partnership unless it elects to be taxed as a corporation. LLC has the same powers as an individual to conduct business. Members are liable for the LLC’s debts, obligations, and liabilities only to the extent of their capital contributions. Limited Liability Company (LLC) Liability of an LLC LLC is liable to persons injured as a result of a wrongful act or omission by a member, manager, agent, or employee while acting within the ordinary course of business. The individual who commits a tort is also liable to persons injured. Managers are not personally liable for the debts of the LLC they manage. Forming an LLC Articles of organization must be filed with the appropriate state office, usually secretary of state. The articles must state the name, duration, and other required information. Members of LLC may enter into an operating agreement. Forms of LLC Management Member-managed Each members has equal rights to manage the LLC. Each member has agency authority to contract for the LLC. Members owe a fiduciary duty to the LLC. Forms of LLC Management Manager-managed Members designate a manager and delegate management authority. Manager may be an LLC member or nonmember. Manager has authority to contract for the LLC. Manager owes a fiduciary duty to LLC. Dissolution and Continuation of an LLC Dissolution Member has power to withdraw from at-will or term LLC. Withdrawal before the LLC term expires is wrongful disassociation. Continu