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(c) X is a director in A Corporation, a construction company. X's second cousin is the owner of B Corporation, a cement manufacturing company where
(c) X is a director in A Corporation, a construction company. X's second cousin is the owner of B Corporation, a cement manufacturing company where X is also a Director. Can A Corporation enter into a supply agreement for cement with B Corporation? Explain Your answer (d) X is an incorporator of A Corporation, he subscribed 2,000 shares out of the capital of 10,000 shares. However, X only paid for 500 shares. The Board of Directors declared his shares due and demandable and asked X to settle the balance immediately. X failed to pay. The company increased its capital stock and will issue 10,000 new shares. X claims that he has a pre-emptive right of 2000 shares from the new 10,000 shares. Is X correct in asserting such right? Explain. Your answer (e) X was a director of A Corporation, while there he embezzled corporate funds and was administratively removed from the company and was also convicted to 6 years imprisonment. 6 years after he was released from prison, being still a stockholder of A Corporation, ran and got elected as a director again, is this possible? Why or why not? Your
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