G.R. No. 194964-65

UNIVERSITY OF MINDANAO, INC.,Petitioner,

vs.

BANGKO SENTRAL NG PILIPINAS, ET AL.,Respondents.

D E C I S I O N

LEONEN,J.:

Acts of an officer that are not authorized by the board of directors/trustees do not bind the corporation unless the corporation ratifies the acts or holds the officer out as a person with authority to transact on its behalf.

This is a Petition for Review on Certiorari1of the Court of Appeals' December 17, 2009 Decision2and December 20, 2010 Resolution.3The Court of Appeals reversed the Cagayan De Oro City trial court's and the Iligan City trial court's Decisions to nullify mortgage contracts involving University of Mindanao's properties.

1. Can you differentiate Board of Directors from Board of Trustees.

2. Give the corporate powers and capacity of a Corporation.

3. What is the role of Board of Directors/ Trustees in a Corporation?

4. What is an Agency. Give the different kinds of agency.

5. Give the different kinds of Corporation and their short meaning.