1. Kyle Corporation is engaged in the business of manufacturing and selling pens and pencils on wholesale basis. It is merely renting a bodega and 90% of its assets consists of its stocks of pens and pencils. BAC Books Store, a school supply dealer, purchased all the stocks of Kyle Corporation. Is the transaction a sale of substantially all of the assets of the corporation requiring concurrence of stockholders representing 2/3 of the outstanding capital stock? Please Explain.

2. CHA Publishing Incorporated is engaged in the business of printing law and accounting books. Around 70% of its assets consists of cash in the bank, 25% in the form of printing machine and the remaining 5% is in the form of office equipment and supplies. CHA Publishing Incorporated plans to sell the machine. Can it be considered sale of substantially all of the assets of the corporation? Please Explain.

3. What are the qualifications of a member of the Board of Directors?

4. What is the so-called BUSINESS JUDGMENT RULE? Please Explain.

5.What is DOCTRINE OF CORPORATE OPPORTUNITY? Please Explain.