1) A trustee in a voting trust agreement acquires legal title to the shares entrusted to him.

2) A subscription contract must be in writing to be enforceable if the amount of the

subscription is P500,000 or more.
3) Shares of stock may be issued for service to be performed at some future time such as
that to be rendered lawyer for the increase in the capital stock of corporation.
4) A subscription is generally an indivisible contract. Accordingly, the certificate of stock
therefor may not be issued unless the subscription and other amounts from the
stockholder have been paid.
5) If no payment is made by a subscriber on the due date of his subscription, his shares
becomes delinquent on the day following.
6) Holders of shares not fully paid but which are not delinquent shall have all the rights of a
stockholder except the right to a stock certificate.
7) A stockholder may be denied the right to inspect the books of the corporation if in the
past he improperly used the information which he obtained from another corporation of
which he is also a stockholder.
8) When a stockholder exercises his appraisal right, all his rights as a stockholder, except
the right to receive payment of the fair value of his shares, will be suspended.
9) The by-laws of a non-stock corporation may validly provide that members may vote by
mail.
10) The by-laws of a non-stock corporation may validly provide that meetings of members
may be held outside the city or municipality where the principal office of the corporation
is located provided that such other place must be within the Philippines.