Freedom Fund v. Lvreis, Inc.

Citations

• 2022 Ohio 786

Syllabus

DEBTOR-CREDITOR — FOREIGN LIMITED LIABILITY COMPANY — CONTRACTS — OPERATING AGREEMENT — AUHORITY TO BIND — REAL PROPERTY — MORTGAGE — QUIET TITLE: The trial court correctly concluded that a member of plaintiff foreign limited liability company maintained his member-manager status. The trial court erred in finding that the member lacked the authority to bind the foreign limited liability company in executing a promissory note and mortgage that encumbered real property that was a part of plaintiff foreign limited liability company's Ohio asset portfolio therefore, the trial court erred in finding that defendant's mortgage on the real property was void and by quieting the title of the real property in favor of plaintiff limited liability company.