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to engage in agricultural activities. Is the law valid? Explain or state briefly the rule or reason for your answers 1. Congress passed a proposed law creating a corporation 2. X, Inc. and Y, Inc. are sisters companies with the same set of officers. May X be held liable for the obligations of 3. If the book value of the share of stock in a corporation is P100, is this amount also its par value and market value? 4. The articles of incorporation provides that particular class of shares shall be deprived of the right to 5. A corporation issued redeemable shares in favor of III. Problems a vote. Nevertheless, may they be still entitled to vote? S who informs the corporation of his option to redeem the same as provided in the articles of incorporation. Has Ca corporate creditor, the right to object? 6. A corporation voted its treasury shares and received dividends thereon Can the corporation do these? 7. The treasury shares were acquired by the corporation at P100 per share. May the corporation sell them at only P50.00 per share? 8. A stockholder, dissatisfied with the management of the corporation, surrenders his certificate of stock and demands the return of the subscription price paid by him. Can he rightfully do this