Question $46($Mandatory$)(1$ point$)$

When the promoter of a limited liability company enters into a preformation contract on the firm's behalf, the company must adopt the contract to enforce it$.$

True

False

Question $47($Mandatory$)(1$ point$)$

A corporation is intangible and invisible, and exists only in the contemplation of the law.

True

False

Question $48($Mandatory$)(1$ point$)$

A court will pierce the corporate veil of a corporation when the corporate privilege is abused for personal benefit.

True

False