If the Incorporator or Promoters Make an Error or Omission

question 22

Multiple Choice

If the incorporator or promoters make an error or omission during the incorporation process,courts may rule that the organization is not a corporation,in which case the organization may be ruled a[n] ______ corporation.

• A) Illegal
• B) Defunct
• C) Uncertified
• D) Defective
• E) Expelled

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Definitions:

Internet Service Providers

Companies that provide customers with access to the Internet.

Misrepresentations

False statements or lies that are presented as fact, which can lead to legal consequences if they cause harm or contractual issues.

Securities and Exchange Commission

A U.S. government agency responsible for regulating the securities industry and protecting investors.

Personal Liability

The responsibility of an individual to answer for debts or obligations from their own assets, rather than the assets of a business or corporation.