Scribd Logo
Upload

Welcome to Scribd!

  • 1K views

    Corpo MCQs Soriano (Double Check Answers)

    Uploaded by

    Dahlia Claudine May Perral
    Corpo Law Soriano

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content

    You might also like

    Corpo MCQs Soriano (Double Check Answers)

    Uploaded by

    Dahlia Claudine May Perral
    1K views19 pages
    Corpo Law Soriano

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    Corpo Law Soriano

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content
    Download as pdf
    1K views19 pages

    Corpo MCQs Soriano (Double Check Answers)

    Uploaded by

    Dahlia Claudine May Perral
    Corpo Law Soriano

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content
    Download as pdf
    of 19
    872 ee CORPORATIONS - DIAGNOSTIC EXERCISES ‘TEST I- MULTIPLE CHOICE, Select the best answer by wri the letter of your choice. a 1 ‘The articles of incorporation differ from the by-laws iri thet the articles of incorporation are: a. the rules of action adopted by a corporation for its internal government. b. adopted before or after incorporation. -c. a condition precedent in the acquisition by a corporation of a juridical personality. 4. approved by the stockholders if adopted after incorporation. The following may be the consideration of the shares of stock of a corporation, except: ‘a. actual cash paid to the corporation, b. previously incurred indebtedness ofthe corporation. © amounts transferred from unrestricted retained sort service to be performed by a lawyer on the Proposed increase in capital stock of the corporation. “A. A certificate of stock is distin from share of stock inthata share of stocks Une on a. isthe written evidence of lence of a stockholder's interest ® », RBeassets and management of a corporation: tangible personal property, Is one of the units into which the capital stock * 4. may not be issued i 7 uly poua” 88Ue4 Hf the subscription has not bee x ‘TIONS: CORPORA’ 873 ‘the articles of incorporation of Acme Corporation provide for the issuance of 100,000 shares without par value and fan issued price per share of P1000. At the time of ameorporation, the subscription and paid-up capital should not be less than: 'P250,000.00 and P62,500.00, respectively 8. _P1,000,000.00 and P250,000.00, respectively. 6. P250,000.00 and P250,000.00, respectively. 4. P250,000.00 and P125,000.00, respectively ‘Their names are mentioned in the articles of incorporation fs originally forming the corporation and are signatories thereof. a. Corporators. b. Stockholders. =e. __ Incorporators. d. Members. .cquires juridical personality A corporation a a sas the filing of the articles of incorporation. 20 he ing ofthe by laws upon the Sing uance of the crite of incorporation. within 30 days from issuance of the certificate of the receipt of the notice ofthe ‘incorporation. ‘A. delinquent stockholder is not entiled to the flowing rights, except the right: a. to be voted. b. to vote or be represents stockholders, c. _ todividends. . He is not entitled to all the rights of ied in the meetings of wockholder. rectors for A, B, CD, B, Fand G are the duly crated diets 2014 of Excellent Corporation. "o’ august 1, 2014, incorporation provide for 7 siete ate Directors A, B, C, D and Emet (0 inthe board brought about by the disloyalty to the corporation as ‘said meeting, the tirestar Bath X Teplace F, and Y, a son of Gs 10 revin 874 10. M. CORPORATIONs and Y are owners of at least one share of stock of the Corporation. The election of X and Y by the remaining directors is fa. valid for both X and Y. b. not valid for both X and Y. c. valid with respect to X; not valid with respect to Y, d._ not valid with respect to X; valid with respect to ¥ In the meeting of the board of directors of Grand Corporation, a construction company, held on August 31, 2014, directors A, B, C, D and E were present among the 9 directors. ‘The meeting had for its agenda the following 1 The appointment of a new treasurer. I, The approval of the contract for thé purchase of cement worth P50,000.00 from X Construction ‘Supplies Co. When the voting took place, directors A, B, C and D voted {for the election of ¥ as the new treasurer; and directors A, B and C voted for the approval of the contract with X Construction Supplies. a. Both corporate acts are valid. b. Both corporate acts are not valid. ©. The election of Y as the new treasurer is valid; the approval of the contract with X Construction ‘Supplies is not valid. ‘The election of ¥ as the new treasurer is not valid the approval of the contract with X Construction ‘Supplies is valid. Under this'theory, the nationality of a corporation is thet of the country under whose laws it was formed. a b. a ‘A corporation created in strict compliance with all ‘Pe legal requirements and whose right to exist a3 ‘corporation cannot be successfully attacked in @ 4! proceeding for that purpose by the State is a: a de jure corporation. CORPORATIONS 12. 13 4. 15, 815 b. de facto corporation, cc. corporation by estoppel, d. __ corporation by prescription. Stock dividends differ from cash dividends in that stock dividends: ‘a. donot increase the legal capital b. __ involve disbursements of corporate funds -c, _Fequire the approval of both the board of directors and the stockholders. 4. once received by the stockholders, are beyond the reach of corporate creditors, ‘The subscriber of unpaid shares which are not delinquent shall be entitled to the following rights, except the right to a vote. . __ inspect corporate books. ~ fa stock certificate. d, dividends. ‘These statements pertaining to the right of a stockholder to inapect the books and records of a corporayon are presented to you for evaluation: [The right may be delegated to an agen Tl The right may be denied if in the past, the ‘stockholder improperly used the information whic hhe obtained from the books and records of another corporation of which he is also a stockholder. -2. Both statements are true. ‘b. _Both statements are false. Se ©. Statement [is true; Statement Ils ss @.—_Statemesit [is false; Statement is ality of separ pert eS jed if it is used for fraudulent, the faithful compliance of Under this doctrine, corporation may be disregard fof illegal purpose oF 0 escape ee enger iat fund doctrine fe entity ob) Daan of prong the vel of cov ©. Doctrine of corporate opportu Doctrine ofimited capacity 876 16. 18, 19. Nr seotidation difers from merger in that in Consolidation, Consolidation Srving corporation shall enjoy all the righ, The and attributes of a corporation under te Corporation Code. b. Tae emisting liabilities of the constituent TMporations shall be assumed by the surviving corporation, ‘The corporate existence of all the constituent Corporations shall be extinguished. and a new corporation emerges. 4. ‘The surviving corporation shall possess. all the rights, privileges, immunities and franchises of te constituent corporations, ‘The right of a stockholder to demand payment of the fie value of ‘his shares when he dissents from certain Corporate acts is known as: a. pre-emptive right.

    You might also like