Question: Problems and Problem Cases 1. Charles McCrory has invented a new battery technology that will revolutionize the automotive power industry. To exploit the technology, McCrory

Problems and Problem Cases 1. Charles McCrory has

Problems and Problem Cases 1. Charles McCrory has invented a new battery technology that will revolutionize the automotive power industry. To exploit the technology, McCrory seeks the financial assistance of several private equity firms, including Zoltar Partners LP, which wants to form a new corporation, to be named GoPow Inc., to exploit McCrory's invention. Zoltar wants to obtain exclusive rights to McCrory's services, but is concerned that another private equity firm will preempt Zoltar by contracting with McCrory first. Therefore, Zoltar wants to bind McCrory to a contract with GoPow as soon as possible. GoPow has not yet been incorporated. Zoltar does not want to assume any liability on the contract with McCrory beyond its future capital investment in GoPow. State three options by which Zoltar may obtain McCrory's contractual commitment without imposing unlimited liability on Zoltar as a promoter making a preincorporation contract

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