Question: How can a promoter avoid personal liability for pre-incorporation contracts?

How can a promoter avoid personal liability for pre-incorporation contracts?

Step by Step Solution

★★★★★

3.37 Rating (172 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Some jurisdictions allow corporations once they or formed ... View full answer

blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

688-L-B-L-L-E (3684).docx

120 KBs Word File

Students Have Also Explored These Related Business Law Questions!

Q:

How may a director avoid personal liability when carrying out her corporate duties?

Q:

The partners who own Cohen Canoes Co. wished to avoid the unlimited personal liability of the partnership form of business, so they incorporated as Cohen Canoes Inc. The charter from the state of...

Q:

The partners who own Liard Canoes Co. wished to avoid the unlimited personal liability of the partnership form of business, so they incorporated as Liard Canoes, Inc. The charter from the state of...

Q:

The adjusted trial balances of Rosa Corporation at August 31, 2014, and August 31, 2013, include these amounts (in millions): Rosa completed these transactions (in millions) during the year ended...

Q:

Gabrick Company sells a product for $30 per unit. Variable costs are $20 per unit, and fixed costs are $2,500 per month. The company expects to sell 560 units in September. Prepare an income...

Q:

Altona Limited purchased delivery equipment on March 1, 2013, for $130,000 cash. At that time, the equipment was estimated to have a useful life of five years and a residual value of $10,000. The...

Q:

Suppose the BIC statistic value for a logistic regression model with five explanatory variables is BIC5 = 234.56 and the BIC statistic value for a logistic regression model with only three of the...

Q:

Selected transactions for M. Acosta, an interior decorator, in her first month of business, are as follows. Jan. 2 Invested $10,000 cash in business. 3 Purchased used car for $3,000 cash for use in...

Q:

Windhoek Mines, Ltd., of Namibia, is contemplating the purchase of equipment to exploit a mineral deposit on land to which the company has mineral rights. An engineering and cost analysis has been...

Q:

Using data in Exhibit 1, calculate Coxs break-even point in sales dollars (per hen). Taking into account his cumulative revenue for a hen, during which week (approximately) will the break-even point...

Q:

Why is it important to study the small business failure rate?

Q:

Please give me a heads up on - "I really like this work and the people at Glass Top Restaurant" said Joe, a server. "But I think I could do more if I had the chance!" "Well," repliedBino, a cook, "We...

Q:

Forces of 18 pounds and 9 pounds act on each other with an angle of 161. Round the magnitude to 4 decimal places and the angles to one decimal place. The magnitude of the resultant force 9.93237...

Q:

Time left 1:11:34 Last season, Fairfield Farms sold strawberries as follows: 1501 boxes at $1.51 per pound in the early part of the season; 3598 boxes at $1.49 per pound at the height of the season;...

Q:

An object produced by some kind of machine turns out to be 10% defective. 10 items were taken randomly from the production for investigation. What is the probability that the object under...

Q:

According to Andy Challenger, senior vice president of outplacement firm ChallengerGray & Christmas, approximately how many job cuts haver companies attributed to Al since last May?

Q:

e. How does the government finance its spending? 152 s e c t i o n 3 Measurement of Economic Performance a. Calculate GDP as the value added in production. b. Calculate GDP as spending on final goods...

Q:

1. Below is depicted a graph G constructed by joining two opposite vertices of C12. Some authors call this a "theta graph" because it resembles the Greek letter 0. a. What is the total degree of this...

Q:

The probability that Ashok can solve a problem in business statistics is 4/ 5, that Johny can solve it is 2/ 3, and that Abdul can solve it is 3/

Q:

Eden Electrical, Ltd., owned twenty-five appliance stores throughout Israel, at least some of which sold refrigerators made by Amana Co.Eden bought the appliances from Amanas Israeli distributor, Pan...

Q:

Richard Fraser was an exclusive career insurance agent under a contract with Nationwide Mutual Insurance Co. Fraser leased computer hardware and software from Nationwide for his business. During a...

Q:

Unable to pay more than $1.2 billion in debt, Big Rivers Electric Corp. filed a petition to declare bankruptcy in a federal bankruptcy court in September 1996. Big Rivers creditors included Bank of...

Q:

Find the Annual Recovery for Year 1 . Method = MACRS Purchased = Nov 0 5 Cost = 1 2 . 0 0 0 Recovery Class = 3 Annual Recovery for Year 1 =

Q:

Worthington Corporation has declared an annual dividend of $0.8 per share. For the year just ended, earnings were $8 per share. a. Worthington's payout ratio is ____________ percent. (Input answer as...

Q:

Given the following information, what is the variance of the returns on a portfolio that is invested 40 percent in both Stocks A and B, and 20 percent in Stock C? (probability of state occurring,...

Related Book

Business Law in Canada 10th Canadian Edition by Richard A. Yates, Teresa Bereznicki Korol, Trevor Clarke