Question
Legal Studies Question on Property Law
The following is not true about ‘promoter’
A
A promoter is not an agent or trustee of the company because the company before incorporation is a non-entity but he is in a situation akin to that of agent or trustee of company.
B
A promoter may also be a director of his company.
C
A promoter is required to make contribution in public issues of his company towards the amount that is being raised through the public issue.
D
All of the above are true
Answer
All of the above are true
Explanation
Solution
The correct option is (D): All of the above are true.