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  • Law2 Qa8

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    Venzhanson Tinasas
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    The document discusses different types of corporations. A corporation has a term not exceeding 50 years under the law unless extended. A corporation shall have perpetual existence under the Philippine Corporation Code and its life is unlimited. A de facto corporation exists and operates as a corporation even if not officially formed as one by law, while a de jure corporation has fulfilled all legal requirements and is formally recognized under the law.

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    LAW2 QA8

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    The document discusses different types of corporations. A corporation has a term not exceeding 50 years under the law unless extended. A corporation shall have perpetual existence under the Philippine Corporation Code and its life is unlimited. A de facto corporation exists and operates as a corporation even if not officially formed as one by law, while a de jure corporation has fulfilled all legal requirements and is formally recognized under the law.

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    11 views1 page

    Law2 Qa8

    Uploaded by

    Venzhanson Tinasas
    The document discusses different types of corporations. A corporation has a term not exceeding 50 years under the law unless extended. A corporation shall have perpetual existence under the Philippine Corporation Code and its life is unlimited. A de facto corporation exists and operates as a corporation even if not officially formed as one by law, while a de jure corporation has fulfilled all legal requirements and is formally recognized under the law.

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    © All Rights Reserved
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    Nicole Queen Moires

    LAW2 QA#8

    1. What is the term of the corporation?


    A corporation shall exist for a period not exuding 50 year form the date of incorporation unless
    it is extended.
    2. When will be the corporation commence to exist?
    -Corporation shall have perpetual existences under the revise corporation code of the
    Philippines
    -life of corporation is unlimited.
    3. What is de facto corporation?
    A corporation that it’s allowed to continue to exist although it has not been officially
    made a corporation by law.
    A corporation organize with compliance with the requirement of incorporation and
    allowed to exist and exercise the power of a corporation until it existences is assailed by
    the state.
    4. What is de jure corporation?

    Is a bonafide corporation that has fulfilled all requirements and granted limited liability
    protection under the law.

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