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An operating agreement is adopted by members of most limited liability companies.
Mary receives her monthly bank statement on December 30th. She looks at it quickly,
then sets it aside. Three days later, she examines it again and discovers a forged check.
What must she do to avoid responsibility for the check?
A limited partnership agreement may not provide that limited partners have the right to
vote on matters as a class separate from the general partners.
An indorsement that says, "Pay to the Order of John Jones, signed Michael Johnson" is
a blank indorsement that turns a check into bearer paper.
On March 20, Alan orally agrees to work for Trower, Inc. for a period of one year
commencing on June 1. No writing is necessary here, because the contract can be
performed within one year.
Actual authority consists of both express and implied authority.
