Promoter Liability
Interactive Video
•
Business, Social Studies
•
University
•
Hard
Wayground Content
FREE Resource
The video tutorial discusses the role of a promoter in the early stages of forming a corporation. It explains how a corporation can adopt or ratify actions taken by the promoter before its existence, thereby transferring liability from the promoter to the corporation. However, if certain actions are not ratified, the promoter may remain liable. This is particularly relevant when promoters seek endorsements or commitments from future shareholders. The concept of promoter liability is highlighted, focusing on actions not ratified by the corporation.
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3 mins • 1 pt
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