Examlex
Under the mailbox rule, an acceptance is only effective when it is received.
Promoters
Individuals or companies responsible for establishing a corporation or business venture, including raising capital and completing legal formalities.
Personal Liability
involves an individual's legal responsibility for debts or obligations, potentially affecting personal assets.
Novation
A legal process by which an existing contract or obligation is replaced with a new one, releasing a party from the original agreement.
Model Business Corporation Act
A model set of laws prepared by legal experts to guide states in developing their corporate statutes.
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