Joe is the promoter of New Corporation (NC) .He entered into various preincorporation contracts.NC was properly formed on January 1,2006.As a result:
A) Joe is no longer personally liable on those preincorporation contracts.
B) NC is automatically liable on those preincorporation contracts.
C) Joe is jointly and severally liable on preincorporation contracts.
D) Joe is not liable because NC released him from personal liability.
Correct Answer:
Verified
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A)may have liability on the contracts
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Q31: A preincorporation share subscription is:
A)a contract binding
Q32: Which of the following occurs at a
Q33: A promoter owes a fiduciary duty to
Q34: The basic governing document of the corporation
Q35: According to the MBCA,which of the following
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