tyr abt | Cagayan BUSINES! >) 24 BUSINESS LAW cS, aor ld = Corporation ATTY.ONG/LOPEZ MAY 2019 4 statement but it was sta Be ge nt 346214 * Cebu City (032) 2537900 tor Be Oro Cty (0898) oS7b409 "Daven ty (OBR) 22 of capital stock in its articles of dX cannot allege the lack of juridical personality on the b, € Bere (On one oveasion, Bentong Corporation, as represented by B as § Nowsteck coraton sell with K involving a townhouse. For failure of Benton Cope pn NE eee N auditing. firm composed of Certified Public Accountants and damages against Band Bentong Corporation. Whicl may validly fom: Core te ae 1 aparinership The action filed against B will not prosper because UW. corporation Bentong Corporation has «separate and distinct , 8 The statement is true with respect to. both business personality from the former and that when B entered into a organizations. Contact with K, he was only acting in behalf of the 'b. The statement is false with respect 10 both business company ‘organizations, The action filed against Bentong Corporation will prosper ce. The staternent is false with respect 10 partnerships true because this pertain to the company and the company “with respect to corporation alone should be held liable unless B acted maliciously or a 4. The staternent is true with respect to pattnership: fae ind faith « swith respect fo corporation The aston filed against Bentong Corpotation and B Wil 23. Under the law the amount of the capital stack to be subscribed prosper because the latter owns a majority of the shares in i: and paid the purpose of subscription = “st least twenty-five former and as such Bis personally liable forall the 4 25%) ofthe authorized capital stock as stated inthe articles of ‘wansactions entered into by the corporation. P. incorporation must be subscribed atthe time of incorporation, d._a and bonly : a and nat. east, twenty-five (25%) peroent of the 7, Mrs. Baby owns a substantial portion of the ouiswnding: na Trust be paid upon’ subscription, the capital of X corporation ts the mere ownership of substamtial b. tatance to be payable on the date or dates fixed in the contract portion alone ofthe outstanding eapital in. ty erelbscription without need oF eall or in the absence of the the application’ af daetrine’ of piercing; the veil of corporate . fixed date or dates, upon call payment of the board of —emtty? " ae directors” S.No, Mere ownership by-a stngle stockholder or by ny ‘a. Unissued capital stock corporation of all or substantially all othe kot b. Outstanding eapital stock the corporation does. not j cre ¢. Total subscription doctsine of piercing the veil of 4. 4. Legal capital At ol Satsribed capt tock amo 4, teabylaw provision of °X° Corporation Srendering ineligible ifeleced subject fo removal a iector i he is aso a director inva corporaton. whose. business is in competion with Aniagonist 0 said eorporaton” valid legal? "Yes, under he prineple of *eorporate oppostuni No- under the principle of separate ent” Yes provided is approved by 273 of the oustanding capital stock : Yes under te principle of ested interes A. BoC. D and € dsirbued calling cards Went themselves as directors of Summit Corporation, oss individuals doing a business conference. In reali no such, corporation is registered with the Exchange Commision. X. who recived credit amounting to P50.000.00 to betioving that such a oer{ PROFESSIONAL SERV 3, INC Are not pes We Pafer they have obtained a figense for the from SEC Tend to be engaged in business witout any Tight given to the slskholders to vent wh demand massta the fair value of their shares fs called Right of proxy ,Pre-emptive right ik Apmis right 4, Stock ight b= Asana A ile to dem pet oe foun ate 9 sc nay court radiate ‘oftheir share shal cease Philippines but may be sued Sanaa ngcmand for payinent is withdrawn, with he ed consent ofthe corporat 28 The by-laws of comoration 1 a SINE When the proposs! scion j» abandoned or commmines, conpysed of not fess en 3 menibe Of Pe boars i crtaensts to be appointed by the board, The executive rescinded by the eorparation When the proposed corpora SEC where such approval is necesSy Ail ofthe above untary dissolution of a corporation. setion i disapproved bythe cori may ac, By majority vote ofa is menace pati matrs within the eompetence ofthe board, as ay bs EiGanied toi in the bylaws or on majority vote ofthe boar. § EXCEPT Ha useiron where ne cicuie 2 affected aac erorovat of any actin for which sharcholder approval Yelumaryessouton here cred also required yonements ofthe Ariel of INGO sol Beret repeal of by laws or adoption of new hy Hil TShorening of erporae tem laws Alte the above c. Filing of vacances inthe Board sc Aitetine aon ining 10 the righ of a saskboler wo | Allfihe bone hoe sunt ans of neprason ners peso 29. On May 1.206, § asta 1.000 shares faba ae ‘ou for evaluation Giana Corporation atthe. par vlue of PIOOO) per share: Ned he tigh maybe delegated 1 an agent Signe Compan 1 2 rn tea oa (Teg a ed Epa the nckboer “payment of 0% of ne eal Peamnas gee The rig me) oerfomatonwfich be ota! fom upon the essen of he ag aaa ga “The balance eho tin books and records of another corporation of which he seh e ubserption must be pad after 30 days, which in the © ¢ is also a stockholder ‘case ofS, is May 31, 2016, REE ea Both statements are true Se Spon the execution OF the subscription contract, S may gy eg ae Both statements are fle crema tne issuance tom ofa stosk'cerifieate covering = Ts © Statsment tis re: Statement Ii fase. 600 shares. ee oo Statement Lis false; Statement ive Sis already qualified “a Sune sol purpose of which so ives cai So bent ‘a specific property and afierwaids consume that property oF 1fS fails to pay the balane is ura its value ata profit is called 2016, his shires wl inguent on ue Tre a. Quasi corporation yt eft ‘Open corporation es 9 on. ‘Wasting asset corporation 3 in Seer meron requ, Yr he Wohin ‘ cl er pei Pn seu Reateeer ic Sead feleoeaaee a Visitoral ponary: course of the of his eoparn oho isnot 8 parnee in Tsar and wife rs mit adler in consideration ers specs by reason of thei aFee ae Sf tad Cr pres nn impo a export business Whe To demand if mers d to place an order are required to make princi bo Z . f ro the ‘partnership. T, @ regular custome: Si pa tod P310/000 te partner A’ who, instead of turing Ove ‘ ‘ ‘ee none te AB partetship, misappropriated i for his Or F arc a wT shoul lone A the misappropriating partner for the e er co amount of 300,000. end Trey. George tbe ma him (A) his CBS, articles of partnership. and owt Te etait 4 sdsamey ah tool toparn - iia ear Sosa diccpatetes wsia ee pete se {and TV pera to a parte appointed as manager in the? articles of partnership eral parters shall ave m0 . soot the writen consi nots, Nee age 2°0f 2 uye eure \E