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The De Facto And Estoppel Concepts In The Llc Context: Still Birth Or Stunted Growth?, Emeka Duruigbo
The De Facto And Estoppel Concepts In The Llc Context: Still Birth Or Stunted Growth?, Emeka Duruigbo
Emeka Duruigbo
Abstract The limited liability company (“LLC”), within a short period since its entrance into the American legal landscape in 1976, has seen a meteoric rise as the business form of choice for many investors. The lack of complete compliance with the statutory requirements for organizing a business, which has posed problems in older business forms, has also found its way into the LLC arena and is only likely to escalate as the popularity of the LLC continues to grow. The consequence has been exposure of business organizers and subsequent investors to ruinous personal liability for business obligations. In response, some …