Question

In a state in which the managers of a limited liability company owe fiduciary duties to the firm and its members, those membe can sue the managers for breaching a fiduciary duty

1. true
2., false

Answer 1

In a limited liability company, the managers owe fiduciary duties to the firm and its members. If they breach these duties, the members can sue them for the breach.

Step-by-step explanation:

True. In a limited liability company (LLC), the managers owe fiduciary duties to the firm and its members. Fiduciary duties refer to the legal obligation to act in the best interest of another party. If the managers breach these duties, the members of the LLC can indeed sue them for the breach. This allows the members to hold the managers accountable for any harm caused to the company or its interests.