LAW
An encumbrance imposed upon an immovable for the benefit of another immovable owned by a different person. O Easement O Warranty Condition O LiabilityContract whereby a corporation undertakes to manage or operate all or substantially all of the business of another corporation, whether such contracts are called service contracts, operating agreements or otherwise. * O Management Partnership O Managing Partnership. O Managing Contract O Management ContractMATIBAY CORPORATION was organized in accordance with the requirements of law. MATIBAY* CORPORATION is considered Corporation by estoppel O De jure corporation O Private corporation O De facto corporationA. B and C form the Magazineno Ka Man & Co., which engage in distribution of different magazines. B was appointed as managing partner, and such appointment was written in articles of partnership. Which among of the following can be considered ground for his removal as managing partner? * Embezzlement of partner's separate money O Embezzlement of spouse's money O Embezzlement of ward's money O Embezzlement of partnership moneyAmanda is the managing partner of Mabuhay Partnership. Xander owes Amanda personally and Mabuhay Partnership P20,000 each. Amanda collected and received from Xander. P10,000 and she issued a receipt wherein it is stated that the amount is applied against his personal credit. How the payment will be applied? * Mabuhay partnershp - P 6,000 and Amanda 4,000 O Mabuhay Parnership - P 10,0000 Amanda - P10,000 O Mabuhay Partnership - P5,000 and Amanda P5,000A type of corporation that is not allowed be enlisted in any stock exchange or make any public offering of its stocks of any class. O Close Corporation O Non-Stock Corporation O Stock Corporation O One Person CorporationA and B are partners in MABAIT KAMI and Co., with B as managing partner. X is indebted to B in the sum of 5.000.00with 20% interest. X is also indebted to MABAIT KAMI and Co. in the sum of 10,000.00 with 15% interest. Both debts are demandable. B collects the amount of 6,000.00 from C. Can X use right to application of payment. * O Yes, he can choose which among his debt is burdensome Yes, provided he is allowed by the partnership O No, only the partnership will decide O No, only the managing partner will decideWhich among of the following is not a requisites of De facto Corporation? O Actual use or exercise in good faith of corporate powers. Issuance of a certificate of O incorporation by the DTI as a minimum requirement of continued good faith. O The existence of a valid law under which it may be incorporated. O A bona fide attempt in good faith to incorporate under such law.A specific and determinate things which is not fungible was contributed to the common fund only the use of the property. Who shall bear the risk of lost? O All the partners O Partnership O Partner who contribute its use. O Partners except the one who contributes its use Stage in contract of sale when the concurrence of the essential elements are manifested. O Death O Conception O Consummation F O PerfectionThe right to withdraw from the corporation and demand payment of the fair value of his shares after dissenting from certain corporate acts involving fundamental changes in corporate structure.* O Right of first refusal O Appraisal right Property right O Pre-emptive rightJuan, Pedro and Simeon form the MATAPANG CORPORATION, all of them are Filipino Citizen and they are all residing in Australia. MAHINHIN CORPORATION was formed under the prescribed law of the country where they three are residing. After 5 years they expanded their operation here in the Philippines. The corporation created by the three gentlemen is considered O De jure corporation O Foreign Corporation O Domestic Corporation O De facto corporationCardo sold his 1 hectare land to Minda on January 15, 2015. Without the knowledge of Minda, Cardo sold again the said property to Diego on March 01, 2015. Upon execution of contract of sale between Card and Diego, Diego eventually registered the property in his name on July 01, 2015. On August 02, 2015, Minda registered the property in her name. In the eyes of law who is the rightful owner of the land? * Cardo will decided who will be O owner O Minda O Diego O Government due to conflict of saleThe following are the essential feature of a valid contract of partnership, except: * O The parties must have legal capacity O There must be a valid contract O The object and purpose of the partnership may be lawful or not. O The primary purpose must be to obtain profitsStatement I: An assignee can interfere in the management of the partnership. Statement II: An assignee has the right to inspect partnership books. Only Statement I is true O Both statements are false O Both statements are true Only Statement ll is trueThe right of a corporation to exist as a juridical person during its term as stated in its Articles of Incorporation despite the death of any of its stockholders is O Right of Existence O Pre-emptive Right O Right of Redemption O Right of Succession
