Roger Is the Promoter of a New Corporation

question 42

True/False

Roger is the promoter of a new corporation.On behalf of the as yet unincorporated business, he enters into a three-year lease agreement for office space and personally signs the lease in his own name.The corporation is liable on the contract, because Roger is its agent.

---

Definitions:

Small Business Person

An individual who owns and operates a business that is typically defined by its small size in terms of revenue and number of employees.

Perseverance

The sustained effort and determination in spite of difficulties, obstacles, or discouragement, essential for achieving long-term goals.

Environmental Factors

Environmental Factors are external elements such as weather, climate, and natural disasters, as well as socioeconomic aspects, that can affect an organization's operations, strategic decisions, and overall performance.

Start-Up Process Model

A framework outlining the steps and stages involved in launching and establishing a new business or enterprise.