pre-reading question
john and phil,his neighbor,decided to set up Lucky Inc.,a corporation to sell
cakes.in taking steps to form and promote their business,they both enter into a contract
with ACS Flour to buy flour for Lucky Inc.that is not yet incorporated.but lucky inc. is
never incorporated. can ACS Flour sue john and phil for the payment they contracted on
behalf of lucky inc.?
Business organizations is an area of law that covers the broad array of rules
governing the formation and operation of different kinds of entities by which
individuals can organize to do business.the term is also used to describe the entities
themselves.
第二段
Promissory Notes
A Promissory Note is a written promise between two parties, commonly referred to
as a note. one party is the maker of the promise to pay, and the other is the payee, or
the one to whom the promise to pay is made, a promissory note can be made payable at a
definite time or on demand.it can name a specific payee or merely be payable to the
bearer (the person in possession of the note). a note contains the following
information:
On[date],[name of maker] made and signed [maker`s] promissory note payable to [the
order of (name)or bearer] in the sum ofon or before [date ].
notes are used in a number of credit transactionsand often bear the name of the
transaction involved .for example ,a note payable in installments is called an
installment note .a note that is secured by personal property is called a collateral
note .in real estate transactions on the property ,is called a mortgage note .
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