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Ana Notes Corpo PDF
Ana Notes Corpo PDF
Business Organization 2
4. May
a
non-‐director
become
a
member
of
MIDTERMS
the
Executive
Committee?
1. Declaration
of
stock
dividend
equal
to
Sec.
35
p.46
S
capitalization
of
URE;
does
it
have
an
No,
a
stockholder
who
is
not
a
director
effect
of
decreasing
the
total
assets
of
the
cannot
be
a
member
of
the
executive
corporation?
committee
because
the
executive
committee
Sec.
43
p.
50
LN
can
only
exercise
such
power
within
the
It
is
said
that
the
declaration
of
stock
competence
of
the
board
of
directors
and
dividends
is
equivalent
to
capitalization
of
appointment
of
a
stockholder
who
is
not
a
the
URE
because
such
surplus
profit
is
used
director
would
result
to
undue
delegation
of
to
purchase
the
unissued
shares
of
stock
of
the
powers
of
the
BOD.
the
corporation
and
are
also
the
ones
5. Corporation
by
Estoppel
vis-‐à-‐vis
the
subsequently
distributed
as
dividends.
Doctrine
of
Limited
Liability
Sec.
21
p.
16
S
In
effect,
no
assets
left
the
coffers
of
the
The
Doctrine
of
Limited
Liability
shall
not
corporation
and
it
is
akin
to
a
forced
apply
to
persons
who
assume
to
act
as
a
purchase
of
the
shares
of
stock
by
the
corporation
knowing
it
to
be
without
stockholders.
The
unrestricted
retained
authority
to
do
so.
The
law
provides
that
earnings
were
converted
to
capital
by
the
such
persons
shall
be
liable
as
general
forced
purchase;
thus
capitalization
partners
for
all
debts,
liabilities
and
occurred
damages
incurred
or
arising
as
a
result
thereof.
Thus,
being
general
partners,
the
2. How
are
directors
elected?
liability
goes
beyond
what
he
has
Sec.
24
p.
24
LN
contributed
to
such
association.
There
shall
be
a
quorum
requirement
but
6. A
corporation
must
at
all
times
have
NO
voting
requirement
because
the
unrestricted
retained
earnings
candidate
receiving
the
highest
number
of
Exceptions:
votes
shall
be
declared
as
elected.
a.) in
case
of
redemption
of
redeemable
4. What
bars
a
foreign
corporation
from
It
is
not
the
lack
of
the
required
license
but
doing
business
without
a
license
that
bars
the
access
to
our
courts?
corporation
from
access
to
our
courts.
5. In
the
absence
of
an
agreement,
may
a
Yes
(Sec.
80)
The
surviving
corporation
shall
not
surviving
corporation
in
a
merger
be
only
possess
all
rights,
privileges
immunities
and
held
liable
for
the
debts
and
liabilities
of
powers
but
shall
also
be
subject
to
all
the
duties
the
dissolved
corporation?
and
liabilities
of
a
corporation.
Yes.
(Sec.
72)
The
law
provides
that
holders
of
6. May
a
stockholder
who
has
not
paid
his
subscribed
shares
not
fully
paid
which
are
not
subscription
in
full
exercise
his
delinquent
shall
have
all
the
rights
of
a
appraisal
right?
stockholder.
7. When
does
a
religious
society
It
shall
commence
to
exist
upon
the
issuance
of
commence
to
exist?
the
certificate
of
registration
by
the
SEC.
Yes.
(Sec.
113)
Any
corporation
sole
may
8. May
a
corporation
sole,
just
like
any
purchase
and
hold
real
estate
and
personal
other
corporation,
have
the
power
to
property
for
its
church,
benevolent
or
own,
hold,
acquire,
alienate
and
dispose
educational
purposes
and
may
receive
bequests
of
properties?
or
gifts
of
such
purposes.
(For
the
alienation/disposition
–restrictions)
9. Will
a
stockholder
who
is
also
a
director
be
automatically
divested
of
his
powers
and
functions
as
such
director
when
his
shares
are
declared
delinquent?
10. May
a
close
corporation
validly
exist
as
Yes
(Sec.
96)
A
corporation
may
be
deemed
a
close
corporation
when
at
least
2/3
of
its
voting
such
if
2/3
of
its
voting
stocks
are
stocks
or
voting
rights
is
owned
or
controlled
by
owned
or
held
by
another
corporation?
another
close
corporation.
11. May
a
transferee
of
a
stock
certificate
of
No
(Sec.
90)
Membership
in
a
NSC
and
all
rights
a
non-‐stock
corporation
compel
the
arising
therefrom
are
personal
and
non-‐
corporation
to
record
the
transfer
in
his
transferable
UNLESS
the
AOI
or
BL
otherwise
favor
and
be
a
member
thereof
like
any
provide.
transferee
of
shares
of
stock
in
a
stock
corporation?
12. May
stockholder
who
has
not
yet
paid
No
(Sec.
64)
No
certificate
of
stock
shall
be
his
subscription
in
full
be
entitled
to
the
issued
to
a
subscriber
until
the
full
amount
of
his
issuance
of
a
stock
certificate
subscription
together
with
interest
and
expenses,
corresponding
to
the
stocks
he
has
if
any
is
due,
has
been
paid.
already
paid
for?