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TENTATIVE DRAFT 3, QUESTIONS SUGGESTED FOR DISC. [i] (May 5-7, 1932)

handle is hein.ali/relwbus0034 and id is 1 raw text is: The American Law Institute
BUSINESS ASSOCIATIONS TENTATIVE DRAFT No. 3
Questions Suggested for Discussion at
Tenth Annual Meeting
May 5-7, 1932
Discussion is not confined to the questions pre-
sented here. You are earnestly requested to raise any
further points which occur to you.
Question 1. SECTION 101. Is the statement that the
pre-incorporation subscription is an offer made to
a group of persons on condition they become incor-
porated correct I
Question 2. SECTION 107, SUBSECTION (1), CLAUSE (a).
This Clause states that the pre-incorporation sub-
scriber's privilege to withdraw his offer ceases
when the last act in order to secure incorporation
is done by those who apply for incorporation. Is
this correct?
Question 3. SECTION 107, SUBSECTION (2). This Sub-
section states that a corporation may enforce a pre-
incorporation subscription even if irregularities in
obtaining incorporation render it subject to quo
warranto proceedings. Is this correct? (See Spe-
cial Note, also Explanatory Note. Compare Sub-
section (1), Clause (c) read in connection with Sec-
tion 111.)

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