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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
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