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CHAPTER 4, PROMOTER - Coggle Diagram
CHAPTER 4
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DUTY PROMOTER
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- disclose to the company any profit which he may secure
- independent board of directors
- existing or intended shareholders
REMEDIES OF BREACH
- recovery of secret profit
- damages for breach of fiduciary duty
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INCPRORATION
PRE-INCOPRORATION
- contracts made before a company is incorporated
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- promoters are responsible for acting for the company
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INCOPRORATION
EFFECTS
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- limited liability on members
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PROMOTER
- involve in launching the company
- arrange for its shares to be offered to the public or sell assets to it
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