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Category > Management Posted 18 May 2017 My Price 6.00

Wayne signed a subscription agreement to purchase one hundred shares

Wayne signed a subscription agreement to purchase one hundred shares of stock of the proposed ABC Company, at a price of $18 per share in a State that has adopted the Revised Act. Two weeks later, the company was incorporated. A certificate was duly tendered to Wayne, but he refused to accept it. He was notified of all shareholders’ meetings, but he never attended. A dividend check was sent to him, but he returned it. ABC Company brings a legal action against Wayne to recover $1,800. He defends upon the ground that his subscription agreement was an unaccepted offer and that he had done nothing to ratify it and was therefore not liable upon it. Is he correct? Explain.

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Alpha Geek
(8)
Status NEW Posted 18 May 2017 11:05 AM My Price 6.00

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file 1495107184-Answer.docx preview (146 words )
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