Asked by Eunice Gwendolyn on Jun 11, 2024
Verified
Which of the following countries claims to be the first nation to permit LLCs?
A) Germany
B) Brazil
C) Mexico
D) Belgium
LLCs
Limited Liability Companies, a business structure in the United States where the owners are not personally liable for the company's debts or liabilities.
First Nation
A term used in Canada to denote indigenous peoples, primarily those formerly referred to as "Indians."
- Understand the historical development and uniqueness of LLCs in different jurisdictions.
Verified Answer
MS
Meline SabatiniJun 15, 2024
Final Answer :
A
Explanation :
In Germany,which claims to be the first nation to permit them,in 1892,LLCs are known as Gesellschaft mit beschrankter Haftung (GmbH).Other countries soon followed Germany's lead,including Portugal (1917),Brazil (1919),Chile (1923),Turkey (1926),Uruguay (1933),Mexico (1934),and Belgium (1935).
Learning Objectives
- Understand the historical development and uniqueness of LLCs in different jurisdictions.
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