Answer to Question #258607 in Law for triz

Question

Zuri and his friends (promoters) have submitted an application to the Registrar of Companies for getting a company incorporated as a public company. Pending the Registrar’s decision of granting certificate of incorporation, the promoters enter into certain contracts for the purchase of some assets for the proposed company. Explain the legal position of promoters’ liability and the liability of the proposed company after its incorporation, in this regard. (15 marks)

Answer 1

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