How can a promoter avoid personal liability for pre-incorporation contracts?
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 44% (9 reviews)
Some jurisdictions allow corporations once they or formed ...View the full answer
Answered By
Arun kumar
made more than four thousand assignments
5.00+
3+ Reviews
10+ Question Solved
Related Book For
Business Law in Canada
ISBN: 978-0133249095
10th Canadian Edition
Authors: Richard A. Yates, Teresa Bereznicki Korol, Trevor Clarke
Question Posted:
Students also viewed these Business Law questions
-
How may a director avoid personal liability when carrying out her corporate duties?
-
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...
-
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...
-
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...
-
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...
-
Consider the output gap version of the Philips curve, with a vertical line drawn at LR (full-employment, potential) output. To the left of this line, we know that?
-
What questions to ask a witness in a deposition?
-
The following amounts summarize the financial position of Rodriguez Computing, Inc., on September 30, 2016: During October 2016, Rodriguez Computing completed these transactions: a. The business...
-
1. Using the diagram below, write a. A in terms of AB b. AE in terms of AB and BC. c. BC in terms of AF and EC. E D F B
-
Using loop ACFDEA from Figure 14.10, and the data from Table 14.6, what is the (a) Misclosure in the X component? (b) Misclosure in the Y component? (c) Misclosure in the Z component? (d) Length of...
-
Who is usually responsible for running the affairs of the corporation?
-
Explain any duties shareholders assume. Summarize the rights of the shareholders in relationship to other shareholders, the management and directors of the corporation.
-
How many geometric isomers are possible for the square-planar complex ion [Pt(NH 3 )(CN)Cl 2 ] ?
-
A 5 5 . 9 kg person displaces 5 7 . 2 L of water when submered in a water tank. What is the density of the person in g / cm ^ 3 ?
-
Portillo & Sons, Inc. purchased equipment on January 1, 2017, at a cost of $500,000. Depreciation was based on an estimated 7-year life and $10,000 estimated residual value. The company uses the...
-
Amanda would like to organize BAL as either an LLC (taxed as a sole proprietorship) or a C corporation. In either form, the entity is expected to generate an 8 percent annual before-tax return on a...
-
A company purchased merchandise to be resold at increasing cost during the year 2017. The purchases were made at the following costs. January 1, 2017 (carried over from 2016) - 20 units at $10...
-
Mason (single) is a 50 percent shareholder in Angels Corporation (an S Corporation). Mason receives a $189,500 salary working full time for Angels Corporation. Angels Corporation reported $438,000 of...
-
What applications of queuing theory can you find employed among local services? Interview consumers who are waiting on lines to determine how (if at all) this experience affects their satisfaction...
-
On July 1, 2011, Flashlight Corporation sold equipment it had recently purchased to an unaffiliated company for $480,000. The equipment had a book value on Flashlights books of $390,000 and a...
-
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...
-
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...
-
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...
-
An insulated circular ring of diameter 6.50 cm carries a I2 = 12.5 A current and is tangent to a very long, straight insulated wire carrying I = 7.50 A of current, as shown in (Figure 1). Part A Find...
-
Why does Marriott Bonvoy have the best loyalty program relative to the cost associated with the program and the program's overall effectiveness? Justify your selection with specific examples.
-
Assignment - Resultant of Simple Distributed Loads 6 kip 1 kip.ft A 2 ft 3 ft 2 ft 2 ft C Q1. Fig.1 shows the plan of a floor slab with a beam A-C. Determine the equivalent resultar force exerted on...
Study smarter with the SolutionInn App