The current trend in law is to permit the corporation to issue shares in return for the promoters' preincorporation services.
Correct Answer:
Verified
Q15: According to the Model Business Corporation Act
Q16: A promoter's liability on preincorporation contracts terminates
Q17: Promoters are not agents of the corporation
Q18: The articles of incorporation serve the same
Q19: Failure to appoint a registered agent in
Q21: Which of the following is a common
Q22: According to the traditional judicial rule, courts
Q23: A de facto corporation:
A) could not be
Q24: Which of the following states has traditionally
Q25: Jones Corp. is a business concern in
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