Security Insurance, Inc., has a board of five directors. Security’s bylaws do not state any quorum requirements. In most states, a quorum for Security’s board meetings would be

Beth and Carol want to form a limited liability company to manage their business, DoReMi Music. Their state has adopted the Uniform Limited Liability Company Act, which has been adopted in​

Quisa and Reilly are partners in Sport Bikes, which rents and sells bikes, bike accessories, and related gear. Quisa manages the business. Unless the partnership agreement states otherwise, Quisa is

Quisa and Reilly are partners in Sport Bikes, which rents and sells bikes, bike accessories, and related gear. Quisa manages the business. Unless the partnership agreement states otherwise, Quisa is

Many states permit a corporate board to have fewer than three directors.

The date when the principal of a bond is returned to the investor is the maturity date.

Stefani and Tyler agree in an exchange of e-mail to form a partnership to buy and sell real property. Their partnership agreement is legally binding

Nina, the owner of Organic Farm, a sole proprietorship, wants to obtain additional capital to operate. This can be accomplished by

A court will pierce the corporate veil of a corporation when the corporate privilege is abused for personal benefit.

Limits on a partner’s authority normally are effective only with respect to third parties who are notified of the limitation.​