KASNEB CPA Intermediate Practice Questions - KASNEB Certified Public Accountants (CPA) - Intermediate Level (CA21-CA26) Exam

A contract signed by a promoter before a company is incorporated:

Can only be enforced against the Registrar of Companies Automatically binds the company from the date of signing Is void and cannot be enforced by any party Is generally not binding on the company unless ratified or novated after incorporation

Correct Answer:

Is generally not binding on the company unless ratified or novated after incorporation

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