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"Whether in common law jurisdictions or in German civil law, the issue of pre-incorporation transactions has always been the subject of considerable controversy. Concerned with the promoters, third parties, the company and its shareholders, the law has found it difficult to balance these frequently conflicting interests without neglecting the need for clear and simple rules. Common law courts, sometimes excessively committed to legal principles, have even come up with absurd results." --
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Pre-incorporation transactions, Klaus Heinemann
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- 1990
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