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JURISDICTION: PHILIPPINES 1. What is the Negative List for Corporations? 10 pts. 2. Pogi Corp. entered into a contract with Matangkad Inc. wherein the latter

JURISDICTION: PHILIPPINES
1. What is the Negative List for Corporations? 10 pts. 2. Pogi Corp. entered into a contract with Matangkad Inc. wherein the latter would purchase a building from the former. The board of directors of Pogi Corp. consists of Andres, Bernard, Carlo, Dante, Eric, Fred, and Greg. The board of directors of Matangkad Inc. Consists of Anton, Brandon, Chris, Daniel, Eric, Fred, and Greg. What is the status of the contract? Explain your answers fully and provide your legal basis (5 pts.)

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