A(n) ________ occurs when a corporation accepts a preincorporation contract by action of its board of directors,by which the corporation becomes liable for the contract.
A) adoption
B) novation
C) ratification
D) assumption of contract
Correct Answer:
Verified
Q33: A promoter owes a fiduciary duty to
Q34: The basic governing document of the corporation
Q35: According to the MBCA,which of the following
Q36: Generally,corporate acceptance of preincorporation subscriptions occurs by
Q37: Sharon entered into a preincorporation share subscription
Q39: On preincorporation share subscriptions:
A)promoters have no liability.
B)promoters
Q40: Under the Model Business Corporation Act (MBCA),a
Q41: _ are long-term,unsecured debt securities.
A)Options
B)Warrants
C)Bonds
D)Debentures
Q42: Promoters of a youth-oriented magazine publishing business
Q43: According to the MBCA,who amongst the following
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