In a Novation by the Board of a Pre-Incorporation Contract

question 17

Multiple Choice

In a novation by the board of a pre-incorporation contract involving the corporation,the promoter,and a third party:

• A)the corporation is released from liability.
• B)the promoter is released from liability.
• C)the promoter is made secondarily liable.
• D)none of the above

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Definitions:

English Settlement

Refers to the establishment of communities and colonies by English people in foreign territories, notably in the Americas, during the 16th and 17th centuries.

Privateers

Armed private ships licensed to attack enemy shipping during wartime, functioning as a form of outsourced naval warfare.

Colonize

The act of establishing control over foreign lands and peoples, often involving settlement and economic exploitation, forming colonies that are subject to the colonizing nation.

Permanent Colonies

Historically established settlements in new territories that were maintained over long periods, often for economic and strategic reasons.