Shopping Bag

0 item(s) in cart/ total: $0    view cart
Free Instant Delivery  |  No Sales Tax
Home > Case Law > Corporations  >  LLC Agreement May Define Member Duties
LLC Agreement May Define Member Duties
LLC Agreement May Define Member Duties Cartoons

LLC Agreement May Define Member Duties

Fisk Ventures, LLC v. Segal; Because LLCs are not creature of state but of contract, duties and obligations of the LLC members are as set forth in the LLC agreement; implied covenant of good faith and fair dealing; post hoc; sine qua non.
Your Price: $10.00

Select Usage (details) :

Related Cartoons

Pre-Suit Demand By Shareholders
Pre-Suit Demand By Shareholders
In Re Infousa, Inc. Shareholders Litig; Pre-suit demand excused only if shown that a majority of the members of board of directors is either personally interested, or is so dominated by or beholden to an interested director that discretion sterilized.
Actionable Misappropriation of Inside Information
Actionable Misappropriation of Inside Information
Securities and Exchange Commission v. Cuban; Insider trading liability under the misappropriation theory is premised on the undisclosed use of confidential information for personal benefit, in breach of a duty not to do so.
Exit Provisions Of A Limited Liability Company
Exit Provisions Of A Limited Liability Company
Haley v. Talcott; Contractual provisions in an LLC agreement that provide a mechanism for a member to exit will be enforced only if they equitably effect the separation of the parties.
No Exoneration For Disloyal Directors
No Exoneration For Disloyal Directors
Sutherland v. Sutherland; A provision in a corporate charter that purports to exonerate directors from breach of loyalty claims is unenforceable.
Reliance On A Failure To Disclose
Reliance On A Failure To Disclose
Affiliate Ute Citizens v. United States; When liability under Rule 10b-5 is predicated on a defendant's failure to disclose a material fact, positive proof of reliance is not a prerequisite to recovery.
Acquisition Tender Offer By Controlling Shareholder
Acquisition Tender Offer By Controlling Shareholder
In re Pure Resources, Inc. Shareholder Litigation; Acquisition tender offer by a controlling shareholder must be non-coercive: non-waivable majority of the minority tender condition; consummate a prompt short-form merger; no retributive threats.
Proper Purpose
Proper Purpose
Paul v. China MediaExpressHoldings, Inc.; shareholder may inspect the books and records of a corporation to investigate fraud and mismanagement, and the ability of the board to act independently and in good faith.
Dead Hand Provision
Dead Hand Provision
Carmody v. Toll Brothers, Inc.; A dead hand provision in a poison pill rights plan is both invalid as ultra vires and because it constitutes a breach of fiduciary duty.
Limited Liability Company Operating Agreement
Limited Liability Company Operating Agreement
Elf Atochem North America, Inc. v. Jaffari; a limited liability company is bound by the operating agreement signed by some members and that defines the LLC's governance and operation, even if the LLC itself did not sign.
LLC Apparent Authority
LLC Apparent Authority
Estate of Collins v. Geist; A manager of an LLC has the apparent authority to bind the LLC when he executes in its name an instrument for carrying on, in the usual way, its business or affairs. Limited Liability Company.
Majority Shareholder Fiduciary Duty
Majority Shareholder Fiduciary Duty
Jones v. H.F. Ahmanson & Co.; Majority shareholders have a fiduciary responsibility to the minority and to the corporation to control the corporation in a fair, just, and equitable manner. All shareholders must benefit proportionately.
LLC or Corporation
LLC or Corporation
Weinstein v. Colborne Foodbotics LLC; An LLC is distinct from a corporation and is not governed by the Colorado Business Corporation Act or case law decided thereunder.