1.) A corporation is an artificial being created by operation of law, having the right of succession and the powers, attributes and properties expressly authorized by law or incident to its existence. XYZ corporation was created by a special law. Later, the law creating it was declared invalid. May such corporation claim to be a de facto corporation?

2.) A corporation may not, generally, be made to answer for acts or liabilities of its stockholders or those of the legal entities to which it may be connected, and vice versa. As Covid-19 hits the world as a result of perennial business losses, Maritess Corporation's net worth has been downgrading. In fact, it is now in below margin. Nonetheless, the stockholders did not like to give up. Turko, Creditor, however, do not share the confidence of the stockholders and refuse to grant more loans. Devastating business confidence, what are the remedies to the stockholders to augment their capital?

3.) In contravention of the agreement between the partners, where the circumstances do not permit a dissolution under any other provision of this article, by express will of any partner at any time, then the partnership is dissolved. A and B entered into a contract of partnership for a period of 5 years. If on the 3 rd year of the operation of the business of the partnership, partner B does not want to continue the business without any valid reason. Is B liable for damages?

4.) A, B, C, D, and E are planning to form a real estate corporation for purposes of selling house and lots. They came to an agreement as follows:

A. That the authorized stock is ten million (P 10,000,000.00) divided into 10,000 (common shares) with par value of P 1,000.00 per share; B. At least 25% of the authorized capital stock as stated in the articles of incorporation must be subscribed at the time of incorporation; and C. That the number of directors shall not be more than 15.

Is this a stock corporation?

5.) A, B, and C entered into a partnership named ABC Partnership. A contributed all his present properties comprising two parcels of land. B contributed his only property which is a specific car. C contributed a common house and lot as a subject of inheritance. What property regime of the partnership as to the kinds of universal partnerships? 6.) What are the three-fold nature of articles of incorporation?

7.) Marites filed a collection action against X Gerald Andersan Corporation. Upon execution of the court's decision, X Gerald Andersan Corporation was found to be without assets. Thereafter, the plaintiffs filed an action against its present and past stockholder, Y Aljur Abrenico Corporation, which owned substantially all of the stocks of X Gerald Andersan corporation. The two corporations have the same board of directors and Y Aljur Abrenico Corporation financed the operations of X Gerald Andersan corporation. May Y Aljur Abrenico Corporation be held liable for the debts of X Gerald Andersan Corporation? Why?

8.) The powers that a corporation can exercise are only those which are granted by the law of its creation. All powers which may be implied from those expressly provided by law and those which are incidental or essential to the corporation's existence may also be exercised. May a corporation enter into a joint venture?

9.) A, B, and C formed XYZ Partnership where A contributed cash of P 500,000.00, B contributed his only land and C will contribute his industry during the term of the partnership. Their agreement is verbal. Rule the legality of its existence.