Write a paragraph or more for each numbered question below (and for each lettered sub-question where applicable). Do not copy directly from the book–explain in your own words. Do not use Google–do not plagiarize–use the material from the book. PLEASE ATTACH ONLY ONE FILE FOR ALL QUESTIONS, and please label the question numbers/sub-questions.
(Chapters 16 and 17)
1. Describe the three classifications of franchises–remember to use your own words/detail/examples per the instructions.
2. Discuss when and how members of an LLC can lose their limited personal liability as described in the book (meaning, when personal liability can be imposed on members of an LLC).
3. Discuss the different ways dissolution can come about for an LLC.
4. Discuss the process of “winding up” when an LLC is dissolved.
(Each numbered question is worth 25 points)