Mark Wants to Incorporate

question 118

Multiple Choice

Mark wants to incorporate. Which one of the following statements is correct with regard to incorporating in Nova Scotia?

• A) These are "letters patent" jurisdictions.
• B) The documents to be sent to the registrar of companies are called the "memorandum" and the "articles."
• C) You can't incorporate a closely held company in these jurisdictions.
• D) The "objects" of the company must be set out in the charter document so that the shareholders understand the limits on the capacity of the corporation.
• E) Articles of incorporation is the document used to incorporate the company.

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Definitions:

Apparent Authority

Apparent Authority refers to a situation where a third party reasonably believes that an agent has the authority to act on behalf of another, even if such authority has not been explicitly granted.

Enforceable Contract

A legally binding agreement between parties that can be enforced by law if not fulfilled.

Ratified

Refers to the formal approval or confirmation of an agreement or contract, typically making it officially valid.

Authority To Make Contracts

The legal capability or power granted to a person or entity to enter into binding agreements or contracts.