The Revised Model Business Corporation Act (MBCA) Does Not Permit

question 17

True/False

The revised Model Business Corporation Act (MBCA) does not permit promises of future services and promissory notes to be exchanged for shares.

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Definitions:

Three Years

A period of time equal to 36 months or 1,095 days, often used as a significant measure in planning, agreements, or assessing progress.

Innovative

Characterized by introducing new ideas, products, or methods that bring significant changes or improvements.

Groundbreaking

Characterized by originality or innovation, leading to new discoveries, developments, or significant changes.

Process

A series of actions or steps taken in order to achieve a particular end.