is artificial being created by operation of law, having the right of succession and the powers,attributes and properties expressly authorized by law orincident to its existence
Piercing the veil of corporate entity-
the juridicalpersonality of the corporation may be disregarded,where such personality is availed of:a.
defeat public convenienceb.
justify the wrongc.
he nationality of the corporationa.
Under the corporate rule-
the nationality of private corporation is where the stateunder whose laws such corporation wasorganized
Under the control test-
the nationality of private corporation is determined by thecitizenship of its
the control test should be followedin case of war, for purpose of knowing whether aparticular corporation is an enemy corporation a testindicated by the need of national security
Classes of corporation formed under the code
tock corporation- a
corporation which have capitalstock divided into shares and are authorized todistribute to the holders of that share dividends
does not have shares of stockand therefore not authorized to distribute dividends.
Other kinds of Corporationa.
e jure corporation-
one which has beencreated in strict or substantial conformitywith the statutory requirements forincorporation and whose right to exist as acorporation is net subject either a collateralor direct proceeding for that purpose of thestate
e facto corporation-
which one whoseactually exists for all practical purposes as acorporation and whose right to exercisecorporate power, shall not be inquired intocollaterally in any private suit but may beinquired by solicitor general in a quowarrant to processing
Corporation by estoppels-
one in which theparties in a given transaction are stopped todeny corporate existence to protectinnocent third persons
Corporation by prescription-
one which,without formal incorporation, has climbedto be a corporation, exercising corporatepowers for a long period of time, with thetolerance of the state example of which isthe roman catholic church
one composed of several natural person
which exist when areligious elder or leader,, incorporateshimself to manage the properties of hischurch
one organizedfor public charity
one organized on mattersor for purposes other than religious orecclesiastical
those organized forecclesiastical or religious purposes
is one whose articles of incorporation that:
ll of the corporation issued stock of all classes, exclusive of treasuryshares, shall be held of record by notmore than a specified number of persons not exceeding twenty
ll of the issued stock of all classesshall be subject to one or morespecified restriction on transfer.
he corporation shall not list its stockin any stock exchange or make anypublic offering of its stock of anyclass.
one where the stock isavailable for subscription or purchase byany person
one organizedaccording to laws of the Philippines
one organized underthe law other than the Philippines
one the stock of which are controlled by anothercorporation known as a parent or hoklingcorporation
one which maybe stock or non-stock organized by ownersof definite portions of a building foreffective management thereof
are those organized forgovernment of portion of state
public corporation- are privatecorporation which have been given certainpowers of public nature such as the power