1. What will happen if the Company refuses to accept the Contract which was made by Promoters on behalf of the proposed company before Incorporation..?
a. Can Company be sued or held liable for non-acceptance.?
b. Can Promoters be sued or held liable for non-acceptance by Company.?
Plz Reply and Tell whatever you know about it..
2. Can a Partnership Firm Become a member of Company whether Private or Public or Licensed u/s 25..
Plz answer both the Queries fast..
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Query Regarding Pre-Incorporation Contracts..!
Replies (2)
1. only promotors are held liable for the preincorporation cases
2. now no relevancy.
3. yes
Partnership firm can not become the member of the Company.
Partnership firm has no septate legal status and acting through it's parner only. A Partner can acquire shares but personally not in the name of partnership.
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