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Case Study (WK3) - business Fox is solely liable on the...

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Case Study (WK3) This week, we're discussing promoter liability instead of briefing a case. Read p 1027- 1030 regarding promoter liability. Answer problem case #3 on page 1045. What could the promoter have done to avoid this lawsuit? Please post your work by clicking on "Respond." Clicking on the + will expand all comments so you can read them at once. I encourage you to interact with your classmates. However, Peer Reviews are not required for the Case Studies. For more information, please see the grading rubric in the syllabus. Problems and Problem Case #3: Is Fox liable to Coopers? Based on my limited knowledge on organizations and financial structure of corporations, I would say that Fox is liable to Coopers & Lybrand. Although there was no agreement regarding Fox's personal liability for payment of the fee for services, he acted as a promoter during pre- incorporation transactions. As a promoter and engaging in acts prior to the incorporation of the
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Unformatted text preview: business, Fox is solely liable on the dealing he negotiated on behalf of G. Fox and Partners, Inc. Lastly, the corporation cannot be held legally responsible for all dealings prior to its existence unless it adopt the promoter's contracts, acknowledging all its material fact. Numeric grade: 3.50/4 pts. Letter Grade: B Comments: Post is correct as to Fox the individual liability. Needed to have covered 2nd part of issues, how he could have avoided liability, or shifted it to the corp. Philippe Figueroa 31 Jan 10 9:22 AM MST ou ld ha ve re ali ze d th at he hi m se lf w ou ld be lia bl e fo r th e w or k ne go tia te d wi th co pp er John Hutcherson 31 Jan 10 1:35 PM MST Phili ppe : Goo d post . Cov ers poin ts of the pro ble m....
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