John Watson entered into an agreement to purchase 1,000 shares of the Marvel Corporation, a corporation to be organized. Watson has since had second thoughts. Applying the RMBCA, which of the following is true?
A. A written notice of withdrawal prior to incorporation will be valid.
B. A transfer of the agreement to another party will eliminate his liability.
C. Watson may not revoke the agreement for a period of 6 months.
D. Watson may avoid liability if a majority of the other subscribers release him.
Answer: C. Watson may not revoke the agreement for a period of 6 months.
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