. A promoter: A. may have liability on the contracts he negotiates on behalf of the prospective corporation. B. does not hold any liability to third parties on preincorporation contracts. C. automatically becomes one of the initial directors of the corporation. D. is not liable on a preincorporation contract after the corporation's adoption of the contract. Because the articles of

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Related Book For  answer-question

Income Tax Fundamentals 2013

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

ISBN: 9781285586618