LAW

1. The Polytechnic University of the Philippines is governed primarily

• By the Corporation Code and only suppletorily by its charter or the law which created it.
• By its charter or the law which created it the Corporation Code its charter and only suppletorily by the corporation code.
• By the Civil Code and only suppletorily by the Corporation Code.
• None of the above

2. XYZ Corporation's life expires on 31 December 2022 per its Articles of Incorporation. XYZ corporation needs to amend its Articles of Incorporation in order to continue is corporate existence.

• False
• True

3. It is the uniting or amalgamation of two or more existing corporations to form a new corporation.

• Partnership
• Consolidation
• Merger
• Joint venture

4. It is mandated/required by law that shares of founders be given certain rights and privileges not enjoyed by the owners of other stocks.

• True
• False

5. A corporation that results from a bona fide but failed attempt to organize as a corporation under the law and actually exercising corporate powers in good faith

• By estoppel
• De facto
• De jure
• By prescription

6. A merger is

• When one of the constituent corporations remains as an existing juridical person, whereas the other shall cease to exist
• When both of the constituent corporations disappear and a new corporate entity emerges
• All of the above
• None of the above

7. In merger, the surviving corporation acquires all the assets, liabilities, and capital stock of all constituent corporations.

• True
• False

8. A one-person corporation's personality is merged into or with the personality of the incorporator so that they are in effect one and the same person.

• True
• False