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1. Chocolate Sundry LLC s members and managers are Devlin Effie and Flavia. After Devlin s relationship to the firm ends Effie and Flavia agree to discontinue the business. This isa. illegal.b. optional.c. wrongful.d. required.2. Venture Capital LP is a limited partnership. Its limited partners include more than 150 sophisticated investors investors and investment professionals. A Venture limited partner loses his or her limited liability if he or shea. does not participate in the firm s management.b. fails to vote on the firm s sale or dissolution.c. acts as the firm s manager.d. invests in Unified Fund one of Venture s competitors.3. Raul is chairman of the board of Swif-Vac Corporation. Pinky a consumer is injured while using a Swif-Vac product. Pinky sues Swif-Vac and Raul individually. Swif-Vac may pay Raul s legal fees undera. the director s right to compensation.b. no circumstances.c. the director s right to indemnification.d. the director s right to certification.4. Gizelle Haya and Ivy do business as Janitorial Services Limited Partnership. After Gizelle s relationship to the firm ends Haya and Ivy agree not to continue the business. This isa. simple misconduct.b. gross negligencec. dissolution.d. dissociation.

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