Pre-Incorporation Contract And Its Enforceability

Priyanka Gambhir, Law College Dehradun, Uttaranchal University

ABSTRACT

The article holds the information about the pre-incorporation contract and how the company is formed with the fulfillment of the pre-incorporation contract since it is one of the requirements to form a company and for the company to come into existence by registration. This article is all about the pre-incorporation contract. It talks about the importance of a pre- incorporation contract and how is it enforceable. The article talks about how much importance a pre-incorporation contract holds in the registration of the company and working of the company. The pre-incorporation contract is important to register under the company’s act,2013. The pre-incorporation contract is also known as the promoter’s contract since the promoter helps in bringing this contract in the name of the company for the full working of the company. The article also includes details about who a promoter is and what does a promoter does in the growth of the company. The promoter is the important person for the company also in the growth of the company since he is the only one who raises capital from different sources. He also helps in getting the pre-incorporation contract. A company, in simple words, is a legal entity that is created by a group of individuals to work cooperatively towards attaining the common objective set by them. The company is formed so that a group of people comes together to achieve the goals they want to achieve and also fulfill their objectives. The article contains basic information all about the pre-incorporation contract.

Keywords: Pre-incorporation contracts, promoters, company.