Find the Lmit

question 19

Multiple Choice

Find the lmit.

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Definitions:

Indoor Management Rule

A party dealing with a corporation may assume that the officers have the valid and express authority to bind the corporation.

Promissory Estoppel

A legal principle that prevents a party from withdrawing a promise made to a second party if the latter has reasonably relied on that promise to their detriment.

Personal Liability

The legal responsibility of an individual to satisfy debts or obligations from their personal assets when they cannot be met through insurance or other protections.

Corporate Ship

An unofficial term possibly referring to a company or a corporation operating in a global or international market, navigating through business waters.