ESSAY. Answer the following items

1. What benefits can shareholders derive from the Securities and ExchangeCommission's visitorial powers over all corporations?

3. According to Article 60 of the Philippine Cooperative Code, duly registered cooperatives which do nottransact any business with non-members or the general public shall not be subject to any taxes and feesimposed under the internal revenue laws and other tax laws. Are you in favor of this article? Why or why not?

6. Illustrate two promissory notes, one where the language is ambiguous and another which is a correctedversion of the previous (refer to Section 17 of Act No. 2031). Explain what made the first promissory noteambiguous.