Casey decided to incorporate her business under the name yStar Inc.Before yStar was incorporated,Casey signed a contract in the name of yStar,Inc.to have some office space remodeled.Which statement is correct?
A) yStar is liable on the contract because the contract was signed in its name.
B) yStar becomes liable on the contract as soon as it is incorporated.
C) yStar is liable on the contract if the contractor knows that the corporation does not yet exist.
D) yStar will be liable on the contract only if the corporation adopts the contract.
Correct Answer:
Verified
Q5: A derivative lawsuit is filed by the
Q10: Larry has owned $5,000 of stock in
Q13: Terminating a corporation is a three-step process:
Q14: Foster,Asher,and Jefferies are the incorporators of Moreland,Inc.They
Q16: The "business judgment rule" has been abandoned
Q19: A corporate charter is filed with:
A) a
Q19: The Williams Act regulates tender offers only
Q21: Moreno is the CEO and Dalton is
Q22: Maureen,a shareholder of Metra,Inc.,was unhappy with how
Q33: Which of the following is not true
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents