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If a promoter enters into a contract with third part on behalf of proposed corporation who is bound?
If a promoter enters into a contract on behalf of a proposed corporation before it is officially formed, the promoter is personally bound to the contract. The proposed corporation is not bound until it is formally incorporated and adopts the contract. Once the corporation is established, it may choose to ratify the contract, thereby assuming the obligations, but until then, the promoter retains liability.
What else can I help you with?
Can the contract be made in such a way that the promoter is not personally liable on it?
Yes, a contract can be structured to limit or eliminate personal liability for the promoter. This can be achieved through specific clauses in the contract that outline the extent of the promoter's liability or by forming a separate legal entity, such as a corporation, to enter into the contract on behalf of the promoter.
Which of these involves a representative who discusses proposed changes in the terms of a labor contract on behalf of employers and employees?
collective bargaining
What means to exchange a contract for money on behalf of an insurer?
It means to give a contract to a companny on behalf of a insurer and and give them some money
Can a parent legally sign a contract on behalf of a minor?
Yes, a parent can legally sign a contract on behalf of a minor in most cases.
What is preincorporation contracts?
Business persons sometimes enter into contracts on behalf of a business organization that is not yet formed. For example, a person forming a corporation may enter into a contracts during the process of incorporation but before the corporation becomes a legeal entity. Once the corporation is formed, it can then enforce the contract terms by means of novation.
Who may sign or execute a binding lease on behalf of a California corporation?
An owner of the corporation or anyone with a POA.
differences between public company and public corporation?
Public Corporation - There are there on behalf of people. Public companie -They are there for people to use
Can non attorney officer of corporation file an answer on behalf of corporation?
Yes. The "officers" of a corporate entity are authorized to 'speak' for the corportation whether they are an attorney or not.
A person signed a contract on behalf of someone who did not have authority to do so?
That is illegal if the person did not have consent to sign on the person's behalf. That is considered forgery and can be prosecuted as such.
What is the role of collective bargaining in unions?
Negotiating the contract agreements on behalf of the employees.
What is the statute for a party acting pro se for a corporation?
Pro se is "for oneself" If you are acting on behalf of a corporation, you would need to be a duly appointed representative or officer.
What is a corperation owned by?
A corporation is owned by its shareholders, who hold ownership in the form of shares of stock. Shareholders elect a board of directors to oversee the corporation's management on their behalf.
