Implied Acceptance: The corporation is bound if it impliedly accepts the contract Express Acceptance: The corporation is bound if it explicitly accepts the contract Implied Acceptance: The corporation is bound if it impliedly accepts the contract Promoter's Liability: The promoter is personally liable for a pre-incorporation contract. Promoter's Liability: The promoter is personally liable for a pre-incorporation contract. Corporation's Liability: The corporation is not bound by a pre-incorporation contract until it accepts it. Liability for pre-incorporation contracts.