Most Incorporation Statutes Have Adopted an Intermediate Position Regarding the Revocability

question 64

True/False

Most incorporation statutes have adopted an intermediate position regarding the revocability of preincorporation subscriptions, making them irrevocable for a stated period without regard to whether they are supported by consideration.

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Definitions:

Line

A straight geometrical figure that extends infinitely in both directions without thickness.

Slope

In mathematics, it is the measure of the steepness or incline of a line, defined as the ratio of the vertical change to the horizontal change between two points on the line.

Positive Economics

A branch of economics that focuses on objective analysis and the description of how the economy functions, as opposed to normative economics that involves value judgments.

Normative Economics

An area of economics that makes assessments of economic fairness or desired economic outcomes and aims of public policy.