A corporation is required to reimburse a promoter for his reasonable expenses incurred on behalf of the corporation prior to incorporation.

Question

Quizplus · Accepted Answer

A corporation is generally not required to reimburse a promoter for his reasonable expenses incurred on behalf of the corporation prior to incorporation because the promoter is self-appointed and has acted for a corporation that is not in existence.

A Corporation Is Required to Reimburse a Promoter for His