Officers Are Not Liable on an Unauthorized Contract Regardless If

question 98

True/False

Officers are not liable on an unauthorized contract regardless if the corporation ratifies it or not.

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Definitions:

Brand Equity

The additional market share and profits products earn because of the brand’s strength compared with that of competing products.

Market Share

The portion of a market controlled by a particular company or product, usually expressed as a percentage.

Brand Identity

The visible elements of a brand, such as color, design, and logo, that identify and distinguish the brand in consumers' minds.

Brand Extension

The practice of using an existing brand name on a new product in a different category to leverage brand equity.