A Promoter Is Personally Liable on Contracts Made by Him

question 23

Multiple Choice

A promoter is personally liable on contracts made by him in the name of the unformed corporation:

• A) even if the corporation adopts the contract.
• B) only until the corporation is formed.
• C) if the promoter,the third party,and the corporation enter into a novation substituting the corporation for the promoter.
• D) only if the corporation is never formed.

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Definitions:

Specific Phobia

An excessive and irrational fear of a specific object, scenario, or situation that leads to substantial distress or impairment in social, occupational, or other areas of functioning.

Cortical Dementias

Types of dementia, such as Alzheimer's disease, that primarily affect the brain's cortex, leading to impairments in cognitive functions such as memory and reasoning.

Subcortical Dementias

Forms of dementia characterized by cognitive and emotional disturbances due to damage to subcortical regions of the brain, differentiating them from cortical dementias.

White Matter

White matter is a component of the central nervous system and is made up of myelinated axons, which connect different brain regions, contributing to the brain's processing speed and cognitive function.