Question
Pete, Alice, and June decided to dissolve their partnership and incorporate their business under the name Sampras Entertainment Corporation (Sampras). They tell their lawyer to
Pete, Alice, and June decided to dissolve their partnership and incorporate their business under the name Sampras Entertainment Corporation (Sampras). They tell their lawyer to file articles of incorporation, and the lawyer says that the filing will be done on July 1. On June 25, Pete enters into a 3-year lease with Wimbledon Corporation (WC). Pete signs the contract in the name of Sampras Entertainment Corporation only. On July 1, the secretary of state accepts and files the articles of incorporation. WC files a lawsuit for breach of the above-noted lease contract. Under these circumstances who is liable under the contract?
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