Gargamel is a member of Smurfs LLC. Like other members of limited liability companies, Gargamel’s liability for Smurfs LLC’s debts resembles the…

10.Gargamel is a member of Smurfs LLC. Like other members of limited liability companies, Gargamel’s liability for Smurfs LLC’s debts resembles the liabilities of:

A. a participant in a joint venture

B. an owner of a sole proprietorship

C. a partner of a partnership

D. a shareholder of a corporation

11.The Clash, Inc. is incorporated in the state of Illinois and is doing business in the state of Wisconsin. In Wisconsin, The Clash, Inc. is properly referred to as:

A. a domestic corporation

B. a foreign corporation

C. an alien corporation

D. a de jure corporation

12.Mick is a director of Sticky Fingers Inc. Without informing Sticky Fingers Inc., Mick starts up Poorly Executed Side Project LLC to compete with Sticky Fingers. Mick is liable for breach of:

A. no duty or rule

B. the duty of care

C. the business judgment rule

D. the duty of loyalty

13.Under Wisconsin law, Zombie Movies Are Great Inc. must hold a shareholders’ meeting at least:

A. monthly

B. annually

C. biannually

D. only when it is called by the board of directors