Promoters

Promoters

University

26 Qs

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Promoters

Promoters

Assessment

Quiz

Other

University

Practice Problem

Easy

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26 questions

Show all answers

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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