This flashcard is just one of a free flashcard set. See all flashcards!

Roy, Sam, and Tina agree to form a computer peripherals mail-order busi­ness. Roy agrees to manage the business and to assume full personal li­abil­ity. Sam and Tina agree to invest in the firm but to be liable only to that ex­tent. These three have formed

a. a limited liability company.
b. a limited liability partnership.
c. a limited partnership.
d. none of the above.