44.Team Liquid Corporation is composed of 15 board members. During the current, they are considering purchasing a new building for their new office in Dagupan City. Unfortunately, not all of the members are available in the proposed meeting for said agenda. How many members should be present to be able to have a quorum?

a.7 of the board members c. 2/3 of the board members

b.8 of the board members d. Majority of the board members

45.I. A stock corporation can hold a meeting anywhere in the Philippines.

II. A non-stock corporation can also hold a meeting anywhere in the Philippines. Which is correct?

a.I is true; II is false c. Both are true

b.I is false; II is true d. Both are false

46.What is not required in the transfer of stock represented by a stock certificate?

a.Delivery of the certificate c. Endorsement by owner or agent

b.Recording in the corporate books d. Execution of deed of assignment

47.A orally subscribed to 10 common stocks of ABC Corporation at a price of P500 wherein payment of the price and delivery of certificate of stocks will happen after 1 month. What is the status of the contract of subscription?

a.Void c. voidable

b.unenforceable d. perfectly valid