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Cengage Advantage Books: Introduction to Business Law 4th Edition by Timothy Koch, Jeffrey Beatty, Jeffrey Beatty, Susan Samuelson, Susan Samuelson
Edition 4ISBN: 978-1133709107Cengage Advantage Books: Introduction to Business Law 4th Edition by Timothy Koch, Jeffrey Beatty, Jeffrey Beatty, Susan Samuelson, Susan Samuelson
Edition 4ISBN: 978-1133709107 Exercise 9
A promoter is liable for any contract he signs on behalf of a corporation before it is formed, unless:
(a) The corporation adopts the contract.
(b) The promoter notifies the other party that the corporation has not yet been formed.
(c) The promoter signs the contract on behalf of the corporation.
(d) The promoter forms the corporation within 72 hours of signing the contract.
(e) The other party agrees to a novation.
(a) The corporation adopts the contract.
(b) The promoter notifies the other party that the corporation has not yet been formed.
(c) The promoter signs the contract on behalf of the corporation.
(d) The promoter forms the corporation within 72 hours of signing the contract.
(e) The other party agrees to a novation.
Explanation
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Option "A" is not correct because in cas...
Cengage Advantage Books: Introduction to Business Law 4th Edition by Timothy Koch, Jeffrey Beatty, Jeffrey Beatty, Susan Samuelson, Susan Samuelson
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