Formation Flashcards
1
Q
Requirements
A
Send in articles which must include: incorporator’s names/addresses, corporation name, classes and numbers of authorized shares, registered agent name/address, number of directors and filing fee.
2
Q
Existence of Corporation
A
Begins at proper filing, if corporation is not validly formed active participants are treated as partners.
3
Q
Corporation De Factor/ Estoppel
A
Colorable compliance insulates shareholders.
Parties act as if there is a corporation insulates as far as contracts.
4
Q
Mistake in Formation
A
Do you have corporation, if there is a mistake but it is not caught then you have a corporation.
