Az Operating Agreement

No, but agreements between members, officers and the limited liability company should be reduced to a written document. Oral contracts can be legally binding in Arizona, but a prudent person will insist on a written contract. The problem with oral contracts is that it is very difficult to prove the terms of the oral contract. If the parties to an oral contract are involved in a dispute, each party will have a different view of the terms of the oral contract, and the judge or jury in a dispute may have a problem determining the exact view of the oral contract. After a larger corporate event, for example. B.dem add or lose a member, it`s a good idea to check and update the company agreement. .