BM1905

ASSIGNMENT ON POWERS OF CORPORATION PT. 3

NAME: SECTION: DATE: SCORE:

ESSAY (3 items x 10 points):

1. “X” Corporation shortened its corporate life by amending its Articles of Incorporation. It has no debts but
owns a prime property located in Quezon City. How would the said property be liquidated among the five
(5) stockholders of said corporation?
Answer:

2. The members of ABC Corporation, a non-stock corporation, contributed an amount for a corporate activity.
However, the total amount that was contributed was more than sufficient for the activity; hence, a balance
of P500,000 was left with the corporation. There is a proposal to offset the unused contribution against the
balance of the receivables from the members. Is the proposal in accordance with law?
Answer:

09 Assignment 1 *Property of STI

Page 1 of 2
 BM1905

3. Two (2) corporations agreed to merge. They then executed an agreement specifying the surviving
corporation and the absorbed corporation. Under the agreement of merger dated November 5, 20NY, the
surviving corporation acquired all the rights, properties, and liabilities of the absorbed corporation. What
would happen to the absorbed corporation? Must the absorbed corporation undertake dissolution and
winding up procedures? Explain your answer.
Answer:

Rubric for grading:

CRITERIA PERFORMANCE INDICATORS POINTS
Content Provided pieces of evidence, supporting details, and 7
factual scenarios
Organization of ideas Expressed the points in clear and logical 3
arrangement of ideas in the paragraph
TOTAL 10

09 Assignment 1 *Property of STI

Page 2 of 2