All flashcards
11 cards
1What role does a promoter play in the formation of the corporation?
2May a promoter be held personally liable for actions taken on behalf of a business before the corporation is legally formed?
3If a promoter enters into a contract before a corporation is formed and the corporation later adopts that contract, does the adoption insulate the ...
4If a promoter enters into a contract before a corporation is formed, what action, if any, may a corporation take after being formed to relieve the ...
5If a promoter enters into a contract on behalf of a newly formed corporation without the corporation’s authorization, can corporation do anything t...
6If a corporation was not incorporated at the time its promoter entered into a contract, after the corporation is incorporated, can it then ratify t...
7Do promoters owe fiduciary duties to the future or actual corporation for whose benefit they are acting?
8A promoter had not yet incorporated or opened her restaurant business. The promoter was planning to offer complimentary bread to all patrons and ta...
9A promoter entered into a pre-incorporation contract with a marketing firm. The firm agreed to provide promotional support for the promoter’s busin...
10A promoter entered into two pre-incorporation contracts on behalf of his business venture. The first contract was with a software company; the seco...
11May a prospective corporation issue shares of stock?