What Is Not a Correct Statement Concerning Promoters

question 28

Multiple Choice

What is not a correct statement concerning promoters?

• A) Promoters are generally active before the corporation is formed.
• B) Two (2) or more promoters are required to form a corporation.
• C) Promoters are fiduciaries with respect to the corporation and its shareholders.
• D) Promoters are liable for any torts that they commit while promoting the corporation.

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Definitions:

Solution-Focused Approach

A therapeutic approach that emphasizes finding solutions in the present time and exploring one's hope for the future rather than focusing on past issues or causes.

Ownership

refers to the state or fact of possessing something, which can include tangible property or intangible rights.

Negotiate a Contract

The process of discussing and reaching an agreement on the terms of a contract, ensuring clarity and mutual understanding of expectations and responsibilities.

Concerns

Matters of interest or importance that require attention or action, often signaling potential issues needing to be addressed.