Jane wishes to create a corporation to operate an art gallery.She completes the articles of incorporation,and mails them to the appropriate state office.She then leases space,hires a receptionist,buys supplies,and contracts with artists to exhibit their artwork,all on behalf of her corporation.Sometime later,the state issues its certificate of incorporation.
A.Discuss the liability of Jane and the corporation with regard to the contracts Jane has made with third parties.
B.Based on the above fact situation,discuss whether a "novation" has occurred.

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The Answer of Jane wishes to create a corporation to operate an art gallery.She completes the articles of incorporation,and mails them to the appropriate state office.She then leases space,hires a receptionist,buys supplies,and contracts with artists to exhibit their artwork,all on behalf of her corporation.Sometime later,the state issues its certificate of incorporation.
A.Discuss the liability of Jane and the corporation with regard to the contracts Jane has made with third parties.
B.Based on the above fact situation,discuss whether a "novation" has occurred.

Jane Wishes to Create a Corporation to Operate an Art