
Promoters
Authored by aliah syr
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University
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26 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Define a promoter?
a person who takes procedural steps to get a company incorporated which includes anyone who makes business preparation for company
a person who acts as a professional in company formation such as a solicitor or an accountant
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The definition of a promoter is stated under __ Act
The Promoters Act
The Companies Act
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the main remedies open to a company for a breach of duty by promoter?
i) rescission
ii) damages
iii) recovery of secret profit
iv) rectification
all of them
I, II, and III
II, III, IV
I, III, IV
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Are the following statements true?
A promoter usually incurs expenses in preparations, such as drafting legal documents, made before the company is formed. They have no automatic rights to recover these 'pre-incorporation expenses' from the company
true
false
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A pre-incorporation contract is a contract purported to be made by a company or its agent at a time before the company has been formed
true
false
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Farhan is the promoter of Peneraju Bhd. Before the company is incorporated, he enters into a contract purportedly on its behalf. After the notice of registration is issued, the contract is breached. Who is liable?
Farhan
Peneraju Bhd
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Would Peneraju Bhd be able to ratify the contract under the Companies Act?
Yes
No
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