Detailed Answer
(a) The basic concept of a promoter is one who forms a
corporation with the goal of the corporation eventually coming
into existence. Answer (b) is incorrect because for there to be an
agent, there must be a principal. There is no principal yet because
the corporation is not yet formed. Answer (c) is incorrect
because the promoters are not agents who can bind the future
corporations to contracts. Answer (d) is incorrect because the
promoters are not agents and thus cannot use agency law to protect
them.