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transnational law transnational law (lex mercatoria or international business law) and "Liability of corporate founders" 2016-03-01 13:58:16 https://www.trans-lex.org/img/logo_ball.png
Principle

No. X.3 - Liability of corporate founders

The founders are liable for debts incurred in the pre-incorporation phase.

Commentary
The Principle is based on the understanding that prior to the coming into existence of the corporation as a separate legal entity, the founders of that corporation, who have a direct interest in the establishment of the corporation, must be held liable for the debts incurred in the context of the incorporation prior to the coming into existence of the corporation as a separate legal entity.

Please cite as: "Commentary to Trans-Lex Principle , "
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