Mick decides to form a company called Big Wind Pty Ltd. Prior to registering the company, Mick enters into a contract purportedly on behalf of Big Wind Pty Ltd with Lotzarain Ltd. Mick subsequently registers Big Wind Pty Ltd. The contract is not binding unless Big Wind Pty Ltd ratifies the contract in accordance with section 131 of the Corporations Act 2001 (Cth).
Correct Answer:
Verified
Q1: Promoters owe fiduciary duties to the company,
Q3: A person will ONLY be deemed to
Q4: Pre-registration contracts can never be binding because
Q5: Passive promoters owe fiduciary duties to the
Q6: Shelf companies can be used by promoters
Q7: Homer and Marge decide to form a
Q8: Which of the following persons may be
Q9: Mickey and Minnie decide to form a
Q10: Isaac decided to form a company to
Q11: Who is a 'promoter' of a company?
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