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A clause in a contract that states that a promoter of a contract will cease to be liable under the contract once a corporation has adopted it, is called:
In the late 18th century, general incorporation statutes emerged in the United States.
an automatic novation clause
de facto corporation
rights
monopolies and governmental powers.
only when the promoter is liable on the contract.
not-for-profit corporation
True
A party who makes a preincorporation contract with a corporate promoter is liable on the preincorporation contract:
In the late 18th century, general incorporation statutes emerged in the United States.
an automatic novation clause
de facto corporation
rights
monopolies and governmental powers.
only when the promoter is liable on the contract.
not-for-profit corporation
True
Which of the following is correct about the history of corporations?
In the late 18th century, general incorporation statutes emerged in the United States.
an automatic novation clause
de facto corporation
rights
monopolies and governmental powers.
only when the promoter is liable on the contract.
not-for-profit corporation
True
Short-term certificated options that are usually transferable are referred to as:
In the late 18th century, general incorporation statutes emerged in the United States.
an automatic novation clause
de facto corporation
rights
monopolies and governmental powers.
only when the promoter is liable on the contract.
not-for-profit corporation
True
Doing intrastate business without filing with the appropriate state office will likely subject a foreign business to a fine.
In the late 18th century, general incorporation statutes emerged in the United States.
an automatic novation clause
de facto corporation
rights
monopolies and governmental powers.
only when the promoter is liable on the contract.
not-for-profit corporation
True
Which class of corporation has members rather than shareholders?
In the late 18th century, general incorporation statutes emerged in the United States.
an automatic novation clause
de facto corporation
rights
monopolies and governmental powers.
only when the promoter is liable on the contract.
not-for-profit corporation
True
Famous British trading companies were the forerunners of the modern corporation and primarily sought corporate status because the government granted them:
In the late 18th century, general incorporation statutes emerged in the United States.
an automatic novation clause
de facto corporation
rights
monopolies and governmental powers.
only when the promoter is liable on the contract.
not-for-profit corporation
True
A ______ exists when the incorporators fail in some material respect to comply with all the mandatory provisions of the incorporation statute yet comply with most mandatory provisions.
In the late 18th century, general incorporation statutes emerged in the United States.
an automatic novation clause
de facto corporation
rights
monopolies and governmental powers.
only when the promoter is liable on the contract.
not-for-profit corporation
True
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