Midwestern Engineering ParTnership’s partners are Bob, Carol, Ted, and Alice. For purposes of entering into contracts, Midwestern Engineering Partnership is ________________________________________________________________________.

Andrews and Baker form a limited liability company (LLC) for the purpose of running an organic foods grocery store. Each invested $100,000 in the restaurant to get it started. One year later, Donna is shopping at the grocery store, trips over a banana peel on the floor left by an unknown person, and breaks her arm in the resulting fall. If Donna sues the LLC,

Which of the following is an assumption that guides Groupthink?

In which of the following situations would an agency by operation of law most likely be created?

Janet and Cyndi started a property management company called Joy Property Management Company. The business operates as a general partnership, and Janet and Cyndi are general partners. True or False:  Under partnership law, if a plaintiff sues about a breach involving a business contract and receives a judgment against Janet, Cyndi, and the partnership in the amount of $100,000, Janet may be liable to the plaintiff for the entire amount of the judgment.

Ethics Question: Assume a business is organized as an LLC with Casey and Quinn as managing members and Sam as a passive, non-managing member. Casey secretly takes a profitable construction job opportunity for his own separate business without informing Quinn or Sam. Which of the following is MOST likely true?

Vantage Robotics, Inc. has a nine-member board of directors. Vantage’s bylaws require a majority of the board to constitute a quorum at any board meeting. At a duly called meeting, five directors are initially present, satisfying the quorum requirement. Partway through the meeting, one director leaves early, leaving only four directors present. The remaining four directors vote unanimously to approve a resolution authorizing a major equipment lease. Is the resolution validly adopted?

Which of the following is not an assumption of Organizational Culture Theory (OCT)?

True or False? When decision makers are under great stress imposed by forces outside their group, faulty decision making happens.

Marley is a partner in the general partnership firm of West, Marley, and Smith. Marley owes his creditor, Ebenezer Jones, $219,000 under a court ordered judgment. In order to satisfy the judgment, Marley transfers his interest in the partnership to Ebenezer Jones. When Marley transferred his partnership interest to Ebenezer Jones, what did Marley transfer?