Incorporators Appoint a Corporation's First Board of Directors

question 10

True/False

Incorporators appoint a corporation's first board of directors.

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Definitions:

Third-Party Beneficiary

A person who, although not a party to a contract, stands to benefit from the contract's execution or performance.

Enforce

To compel observance of or adherence to laws, rules, or obligations.

Incidental Beneficiary

A person who gains a benefit from a contract between two other parties, but whose benefit was not the reason the contract was created.

Wage Earner's Assignment

A legal agreement allowing for the voluntary deduction of money from an employee's wages to pay off debts.