WebFiduciary Duties Member managed – all members have equal right in management; owe fiduciary duties to other members; DEFAULT Manager managed – manager manages day-to-day business; NOT unilateral … WebBUSINESS ORGANIZATIONS OUTLINE AGENCY Fundamental Issues An agent is: one who acts for another by authority from him, one who undertakes to transact business or manage some affair for another by authority and on account of the latter Three Required Elements of an Agency Relationship: Manifestation by the principal that the agent will act …
Biz Orgs - Full Outline (Ali) (1).docx - Jerry Markham LAW...
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