(25) Before ABC Ltd is registered, Fred signs a contract on its behalf with an outsider. Which of the following is INCORRECT?

Select one:

a.

Fred must disclose any profit he makes from the contract;

b.

Fred must allow ABC Ltd to take up the contract;

c.

Fred can still be liable under the contract even if ABC Ltd takes it up;

d.

Fred can exclude himself from liability by agreement with the outsider;

e.

Fred can owe a fiduciary duty to ABC Ltd for things he did before it was registered.