Incorporation

Question 1

Ultra Vires Doctrine

Answer 1

When a corporation goes beyond the scope of its articles of incorporation. Officers and directors are liable to the corporation for the losses of ultra Vires acts

Question 2

De Facto Corporation

3 req

Answer 2

1. Statute allowing de facto
2. Good faith effort to comply
3. use of the corporation

Question 3

3 Defenses to Pre-Incorporation Sunscription Agreement

Answer 3

1. Material change in the purpose of the corporation
2. Not fully subscribed
3. Not a de jure corp.

Question 4

Corporation

Answer 4

If you represent to other people that you are a corporation you may be estopped from denying corporation status