4.) Juan and Pedro formed JP Partnership. They agreed that partner Juan will be the manager. Subsequently, in a contract, partner Juan extended a credit to Roque in the amount of P 250,000.00 with 5 % interest per annum due on November 30, 2021. In another transaction, JP Partnership had a receivable against Roque in the amount of P 500,000.00 due also November 30,2021. On December 5, 2021, Roque paid Juan the amount of P 100,000.00. Should Juan collect the entire amount?

5.) The Revised Corporation Code introduced substantial changes with respect to the term of corporate existence. Sec. 11 provides that a corporation shall have perpetual existence unless its Articles of Incorporation provides otherwise. The term of BTS Corporation in accordance with its Articles of Incorporation ended last December 05, 2021. The term was not extended. What will happen to the corporation?

6.) The Corporation Code of the Philippines vests in the board of directors the exercise of the corporate powers of a (stock) corporation, save in those instances where the Code requires stockholders' approval for certain specific acts. The board of directors of Sana Ibigay Muna

(SIM) Corporation passed a resolution providing bonus for its employees in a special meeting called for the purpose. At the time, however, Antonio Trillaning, was still out of the country. Antonio assailed the validity of the said board resolution contending that the same was ultra vires on the ground that he was not duly notified of the special meeting in which it was passed. Is the disputed board resolution ultra vires as argued by Antonio?