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[95] Dora Roe reached a preincorporation agreement with Nora for the purchase of shares in a corporation that Dora planned to form to sell pizza.
[95] Dora Roe reached a preincorporation agreement with Nora for the purchase of shares in a corporation that Dora planned to form to sell pizza. Dora later formed the corporation, which promptly went into the sportswear business as Dolsports, Inc. After incorporation, Dolsports accepted Nora's subscription and entered into a subscription agreement with Phoebe. It also signed an executory contract to sell shares to Susan. Who is not liable on their agreement? [95] Dora Roe reached a preincorporation agreement with Nora for the purchase of shares in a corporation that Dora planned to form to sell pizza. Dora later formed the corporation, which promptly went into the sportswear business as Dolsports, Inc. After incorporation, Dolsports accepted Nora's subscription and entered into a subscription agreement with Phoebe. It also signed an executory contract to sell shares to Susan. Who is not liable on their agreement? B. Nora, because the actual corporation differed from the one subscribed to. C. Susan, because an executory contract to sell shares is not binding. O D. Dolsports, because agreements to sell shares are not binding on a corporation. A. Phoebe, because a post-incorporation subscription is not binding
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