False, phoenix is not bound by maya's contract even if maya is the promoter of a corporation
A promoter is the person who takes the initiative to start or organize a business in accordance with corporate law. A promoter is the originator or organizer of a corporation or business endeavor. The word is most frequently used in relation to incorporation.
The function of a promoter may be entirely or partially carried out by an investment banker, underwriter, or stock promoter. Promoters often have a duty of absolute good faith to reveal all relevant information about the company's operations and not to deceive any potential investors.
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