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Can a corporation enter into a contract before its date of incorporation?
No, a corporation cannot enter into a contract before its date of incorporation. This is because a corporation does not exist as a legal entity until it is officially incorporated. Therefore, it cannot legally enter into any contractual agreements prior to its date of incorporation.
What is the practical purpose of a pre-incorporation contracts?
to ratify and adopt
What is the ratio of profit sharing for pre-and post incorporation of company?
The profit-sharing ratio for a company typically differs before and after incorporation. Pre-incorporation, profits are usually shared among the founders or partners based on their agreement, which may not be formalized. Post-incorporation, profit-sharing is determined by the ownership of shares, with profits distributed as dividends based on the number of shares held. This formal structure helps ensure clarity and adherence to legal requirements.
What is a pre contract agreement?
a contract or arrangement made beforehand, esp a betrothal
When can pre incorporation contracts be treated as valid?
Pre-incorporation contracts can be treated as valid when the company, once incorporated, adopts the contracts through a formal resolution or by ratification. Additionally, if the company’s articles of association permit it, these contracts may also be enforced. However, the individuals who entered into the contracts on behalf of the company may remain personally liable until the company adopts the contract. Ultimately, the specific legal framework governing the jurisdiction in question will also dictate the validity and enforceability of such contracts.
Is pre nuptial agreement signed by the parties and notarized by a lawyer a kind of contract?
A pre-nuptual agreement is a type of contract. The parties have set obligations and limitations on their sharing of property.
What is a pre-contractual negotiation or pre-emptive talk?
Statements made to induce someone into entering into a contract.
What are pre-incorporation transactions in company law?
Transactions between two parties (promotor of company and third party) before a company is incorporated.
I would like to know if its possible to turn my verizon contract phone and switch it to a pre-pay?
I would like to know if its possible to turn my verizon contract phone and switch it to a pre-pay??
How does a sales contract work?
The buyer agrees to pay a pre-determined price for a good or service. The seller agrees to supply that good or service at the pre-determined price. There may well be other terms in the contract.
Where do you get no contract phones that arent prepaid?
The simple answer is - you can't ! Mobile phones are either paid for on a contract - which gives the user an allowance of free calls, or they are pre-paid - in that the user credits the account in advance. There is no third option - EVERY mobile phone is either pre-paid or contract.
What is the basic test for determining if a pre-contractual statement is a contractual term or mere representation?
If the term is enforceable under the contract then it is a term. if it was merely something said to induce a person to enter into a contract it is a pre-contractual statement.
