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

____ 48. The unpaid subscription of X for 10 shares with par value of P50 each is P200 with interest at P50. Which of the following bid will be considered the highest bid in a delinquency sale?

a.P165 for 3 shares c. P250 for 6 shares

b.P200 for 4 shares d. P250 for 8 shares

____ 49. During the annual stockholder's meeting of the Many Pakyaw Corporation, Mrs. D, an owner of certain number of common shares attended. At the time of the meeting she was instructed not to vote on a certain issue. Mrs.

D contends that she has the right to vote.

a.Mrs. D cannot vote because it is not expressly stated that he has voting rights.

b.Mrs. D cannot vote due to the fact that he is not a majority owner of the corporation

c.Mrs. D can vote because as a rule all common shares has a right to vote.

d.Mrs. D can vote only upon express mention by the presiding officer during the meeting

____ 50. Are the stockholders, directors or officers personally liable for the liabilities of the corporation after the assets of the corporation are exhausted?

a.yes because they are considered to be general partners

b.no under all instances

c.yes under all instances

d.no as a general rule unless exceptional cases warrant the piercing of the veil of corporate fiction