What is the primary responsibility of promoters in relation to a corporation?

The primary responsibility of promoters in relation to a corporation is to act on behalf of a corporation that is not yet formed. Promoters are individuals or entities that take on the role of organizing and establishing the corporation before it becomes a legal entity. They carry out various preparatory tasks, which may include filing necessary documentation, securing financing, and making arrangements for directors and officers. Importantly, their actions create binding obligations on the corporation once it is formed, although they themselves may hold personal liability for those actions until the corporation is legally recognized.

In the context of the other options, operating the corporation after formation is not a responsibility of promoters; rather, that duty typically falls to the directors and officers once the corporation is established. Additionally, managing the corporation’s finances is part of the responsibilities of the corporation's management team—not the promoters. Finally, enforcing corporate contracts is a function that usually takes place post-formation, under the corporation's own authority, not under the purview of the promoters who are involved in the initial stages of the company's development.