A Preincorporation Subscription to Stock Is Generally Treated as an Agreement

question 6

True/False

A preincorporation subscription to stock is generally treated as an agreement to buy the stock when the corporation is formed.

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Definitions:

Dispute

A disagreement, argument, or debate, particularly one that is prolonged or legal in nature.

Neighbor

An individual who lives near or next to another; in broader terms, a person who is part of one's immediate geographical community.

Temporal Discounting

The inclination to prioritize short-term gratification over long-term benefits.

Boots

Footwear that covers the foot and the ankle and extends up the leg, sometimes as far as the knee or even the hip.