BUSINESS LAWS AND REGULATIONS; Instructions: Your answer should demonstrate your ability to analyze the facts, apply the pertinent laws and jurisprudence, and arrive at a sound or logical conclusion. Always support your answer with the pertinent laws, rules, and/or jurisprudence. A MERE "YES" OR "NO" ANSWER WITHOUT ANY CORRESPONDING EXPLANATION OR DISCUSSION WILL NOT BE GIVEN FULL CREDIT. THUS, ALWAYS BRIEFLY BUT FULLY EXPLAIN YOUR ANSWERS ALTHOUGH THE QUESTION DOES NOT EXPRESSLY ASK FOR AN EXPLANATION. Honesty is the best policy.

The articles of incorporation to be registered in the SEC contained the following provisions a) "First Article. The name of the corporation shall be Toho Marketing Company." b) "Third Article. The principal office of the corporation shall be located in Region III, in such municipality therein as its Board of Directors may designate." c) "Seventh Article. The capital stock of the corporation is One Million Pesos (P1,000.00), Philippine Currency." What are your comments and suggested changes to the proposed articles?