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Jennifer Pickett signed a stock subscription for 100 shares in the yet-to-be-formed XYZ Corporation on December 21, 2020. The articles of incorporation were filed on

Jennifer Pickett signed a stock subscription for 100 shares in the yet-to-be-formed XYZ Corporation on December 21, 2020. The articles of incorporation were filed on June 24, 2021 with a par value for common shares of $10. XYZ has asked that Jennifer honor her stock subscription. Which of the following is correct?

Jennifer is required to honor her stock subscription commitment.

The stock subscription has expired.

The corporation was not formed validly because it took longer than six months.

Stock subscriptions are not valid unless given in an already formed corporation.

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