Under the MBCA,an incorporator may become jointly and severally liable for preincorporation contracts just by being an incorporator.
Correct Answer:
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Q1: Regardless of what state a corporation files
Q2: Promoters are personally liable on a preincorporation
Q3: If the secretary of state's office approves
Q4: Watered shares are shares issued for consideration
Q6: Only when the promoter is liable on
Q7: In order to capitalize a newly formed
Q8: Under the Model Business Corporation Act,a corporation
Q9: A promoter is not an agent of
Q10: Two corporations in a state may have
Q11: Under the Model Business Corporation Act (MBCA),a
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