Question

Very Short Answer Type Questions
0.1. Promoter is neither the trustee nor the agent of the company? Comment
0.2. Define qualification shares​

Answer 1

Answer:

1. A promoter is a person who carries out the preliminary tasks before a company comes into existence. Therefore, until a company is established and takes its form as an artificial person, a promoter can neither be regarded as a trustee nor as an agent of the company. A company is therefore not bound by the acts entered into on its behalf by the promoters. However, the acts may be ratified once the company is formed.
2. A share of common stock that a candidate for a company's Board of Directions (BOD) is required to own. ... Instead, it refers to the requirement that a member of the board must hold a vested interest in the operation of the enterprise in the form of company stock.

hoped it helped!!!!