- 3 Marks
Question
State THREE features of a pre-incorporation contract. (3 marks)
Answer
- Parties to the pre-incorporation contract: The contract involves individuals or entities acting on behalf of a company that has not yet been formed.
- Subject-matter of the pre-incorporation contract: The contract typically relates to matters that are intended to benefit the future company.
- Chronology: Every pre-incorporation contract is made before the company is formed.
[Any 3 points at 1 mark each for a total of 3 marks]
- Tags: Company Formation, Contract Law, Pre-incorporation
- Level: Level 1
- Topic: Contract Law
- Series: MAY 2016
- Uploader: Dotse