Custom Business Applications Corporation substantially complies with all conditions prece?dent to incorpo?ration. Custom Business is most likely

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Custom Business Applications Corporation has substantially complied with all conditions precedent to incorporation, which means it has met all legal requirements to become a corporation. Therefore, it is most likely a de jure corporation, meaning it has been properly formed and has all legal rights and powers of a corporation. A corporation by estoppel arises when a party treats an entity as a corporation, even though it has not complied with all legal requirements, while a de facto corporation exists when there is a good faith effort to comply with legal requirements, but a defect or irregularity exists. Ultra vires refers to actions taken by a corporation that are beyond its legal powers or authority.

Custom Business Applications Corporation Substantially Complies with All Conditions Prece?dent