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Mandatory conditions precedent - PowerPoint PPT Presentation

Promoter Liability

Promoter Liability. Part 1: Theories. Rule. PROMOTERS ARE PERSONALLY LIABLE ON A CONTRACT UNLESS THE OTHER PARTY AGREES TO LOOK TO SOMEONE ELSE. CORPORATION CANNOT RATIFY ACTION AFTER THE FACT SINCE IT DID NOT EXIST AT THE TIME THE CONTRACT WAS ENTERED INTO. Primary ? Secondary Liability.

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Mandatory conditions precedent - PowerPoint PPT Presentation

Promoter Liability