A De Facto Corporation Exists Where

A de facto corporation exists where:

A) the promoters had substantially complied with all mandatory provisions.
B) an honest attempt was made to comply with the mandatory provisions of the corporate statue,yet the attempt still failed in some material respect.
C) a person holds himself out to be a representative of a corporation,yet no real attempt to incorporate has been made.
D) the corporation can be challenged by a third party.