forming a corporation
1.  incorporating & organizing
a.  articles of incorporation
1.  name (inc, co, corp)
2.  duration
3.  purpose
4.  shares of stock (no. and classes)
5.  officers
6.  reqistered agent
b.  organizational meeting:  officers, bylaws, buy stock
2.  ultra vires:  invalidates transactions beyond purpose stated in aoi (now a practical nullity b/c eveyone puts “any lawful purpose”
3.  prematurely commencing bsns. – must received at least $1k in ¢ for stock.
a.  promoters
i.  both know there is no corp. in existence yet:
A)  default rule:  A is party to the K
B)  can change default rule to non-recourse A, best efforts A, novation, additional liability, etc.
ii. 3P doesn’t know ther is no corp. in existence yet: 
A)  promoter breached the implied W that corp. exists or
B)  promoter laible b/c he knowingly misreps his authority
b.  acceptance of the K:
i.  outright acceptance
ii. implied acceptance (adoption):  if you pay rent on new lease for a couple mos. and then quit to find better deal, too late; you’ve adopted the K
c.  defective incorporation:  both parties think aoi filed properly, but wrong!
i.  certificate of incorporation issued?  okay (even if improperly issued)
ii. no certificate?  Texas might  recognize a “Corp. by Estoppel”
1.  when the 3P sues the “corp” for a jj, the 3P is later estopped from denying it exists (and vice-versa)
2.  TMCLA “if a corp. makes a 3PK before incorporated, the 3P can’t get out of K by saying corp didn’t exist.
d.  directors are personally liable for the $1k they are supposed to get before starting bsns (only liable for that amt.)