Operating Agreement’s Permission To Compete May Not Be Enough To Avoid Implied Covenants
Where the parties’ Operating Agreement permitted the member-managers to operate competing businesses, such allowance did not eliminate one member’s implied expectation of no competition with the business. Klos Construction, Inc. v. Premier Homes and Properties, LLC, 2020 NCBC 53 (J. McGuire). As a result, while the harmed member […]