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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.

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AnswerBot

1y ago

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Sign a contract to have resurface but company did next door neighbor?

The company is liable as per the contract. They must fufil the contract they established with you the contractee in full, regardless of mistakes they made. If they try to refuse, they are in breach of contract, and are liable to law suit.


Is the card insured if stolen?

Yes. If you report a card stolen, then you are not liable for any charges not made by you personally.


What Rae remedies available to the company against promoter?

1. Rescind or cancel the contract made and if he has made profit on any related transaction, that profit also may be recovered 2. Retain the property paying no more for it then what the promoter has paid for it depriving him of the secret profit. 3. If these are not appropriate (e.g. cases where the property has altered in such a manner that it is not possible to cancel the contract or where the promoter has already received his secret profit), the company can sue him to for breach of trust. Damages up to the difference between the market value of the property and the contract price can be recovered from him.


What are the rights of promoters in a company?

A promoter is not an agent for the company which he is forming, because a company cannot have an agent before it comes into existence. Further more, he is not a trustee for the company because there is no company yet in existence. The promoter stands in fiduciary relation to a company and to those persons becomes shareholder later, the promoter is accountable to the company like an agent and trustee. He cannot make any secret profit. He must disclose everything to the company. He is personally liable for all contract made by him with third party on behalf of company. Before incorporation a company has no legal existence and so cannot make a contract. A promoter, therefore, has no legal right to claim remuneration for his services. If the promoter enters into a contract with the company about his remuneration, after the incorporation of company, then directors are liable to pay remuneration. The remuneration may be paid in any of these ways. If a commission on business or property taken over by the company through him. A company may give him a lump sum amount in cash. Some shares can be allotted to him. He may take a commission at a fixed rate on shares sold. He may take an option to subscribe for certain non-issued shares of company at par within a fixed period.


Who is responsible and liable for paying your individually build account IBA travel charge card bill?

You are personally liable for all charges made on your travel charge card.


What are the rules regarding minor agreement?

Rules regarding minor's agreement:1. No ratificationAn agreement with the minor is completely void. A minor cannot ratify the agreement even on attaining majority, because a void agreement cannot be ratified.2. Minor can be a promise or beneficiaryIf a contract is beneficiary to a minor it can be enforced by him. There is no restriction on a minor from bring a beneficiary.3. No estoppel against a minorWhere a minor by misrepresenting his age has induced the other party enter into a contract with him, he cannot be made liable on the contract. There can be no estoppel against a minor.4. No Specific performance except in certain casesA minor's contract being absolutely void, there can be no question of the specific performance of such contract.5. Liability for tortsA trot is a civil wrong. A minor is liable in tort unless the tort in reality is a breach of contract.6. No insolvencyA minor cannot be declared insolvent as he is incapable of contracting debts and dues are payable from the personal properties of minor and he is not personally liable.7. Minor can be an agentA minor can act as an agent. But he will not to be liable to his principal for his acts. A minor can draw, deliver and endorse negotiable instruments without himself being liable.


An ultra vires contract is a contract that?

A contract that is made outside of the jurisdiction of the parties that made it. This is not a viable contract.


If I were to Cosign for someone so they could get a car what happends What is my obligation then?

You could be held liable for the payments if the other party defaults. Your signing the contract is "insurance" for the lender that payments will be made, and they will consider you responsible if the primary party defaults.


Does a minor have the absolute right to void a contract?

A minor does not have the absolute right to void a contract. As a general rule, contracts made by minors are voidable by the minor at any time up until the minor affirms the contract after reaching majority or until a reasonable times after reaching majority. There are cases where a minor can be held liable for his/her actions if at the time the contract was entered they acted in a responsible and adult-like that proves they were of a capacity to understand the contract. However, the burdon to prove that the minor was actually of capacity falls on the other parties in the contract.


Is vector a part of gene cassette?

No, the gene cassette is made up of the promoter, transgene and terminator.


What can be done about an executor who takes items that were to be given to another?

The executor should be reported to the court that made the appointment ASAP. They should be removed and a successor should be appointed by the court. They will be held personally liable for any violation of state fiduciary laws.


How do you get out of contract?

Getting out of contract can be made by executing or exhausting the object of the contract or using applicable contract provisions that can get you out of contract.