LAW
In a corporation, two or more positions may be held concurrently by the same person, except that no one person shall act as: * O President and Secretary President and Chairman of the D Board O Secretary and Treasurer O Treasurer and DirectorOne of the following does not require stockholder's approval * O Declaration of cash dividend O Merger or consolidation O Change of corporate name Investment of corporate funds for a O purpose outside of the main purpose of the corporation.A, 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 made after the partnership has been constituted. His appointment can be revoked by: * O Whatever cause O Legal cause O Authorized cause O Just causeWhich among of the following documents may be submitted before or after incorporation?* Verification certificate as to the name of the corporation O By-laws O Articles of Incorporation O Certificate of bank deposit as to the paid-up capitalMicrophone Provides that the capital stock, property and other assets of a corporation are regarded as equity in trust for the payment of corporate creditors. * O Trust Fund Doctrine O Unrestricted Retained Earnings O Retained Earnings O Dividend Every member of a non-stock corporation shall be entitled to how may votes?* O 2 O 4 O 3 CMa Sipag Corporation acquired through purchase the raw assets and properties of the Ma Tamad Corporation. What kind of acquisition made by Ma Sipag Corporation? Equity Level Business- Enterprise Level Business- Equity Level O Asset-only LevelWhich among of the following is not a defence for refusal to inspect the books and records of a corporation? Was not acting in good faith or for a O legitimate purpose in making the demand to examine or reproduce corporate records. Competitor, director, officer, O controlling stockholder or otherwise represents the interests of a competitor. Was acting in good faith or for a O legitimate purpose in making the demand to examine or reproduce corporate records Improperly used any information secured through any prior examination of the records or minutes of such corporation or of any other corporation.Botong advertised a car for sale as Vios, 2010 model, Andrea after buying the car, found it of an older model, Andrea could return the car. What kind of contract of sale entered by Botong and Andrea? * O Sale by sample and description O Sale by sample O Sale by auction O Sales by descriptionWhich among of the following statements is not correct? * The Board of Directors shall order, by resolution, the sale of delinquent O stock specifying the amount due plus accrued interest, the place, time and date of the sale. Payment of unpaid subscription O may not be enforced by applying cash dividends to delinquent stockholders. In the delinquency sale at public auction, the highest bidder is one O who offers to pay the full amount of the balance of the subscription plus interest and expenses of the sale for the highest number of shares. The sale of delinquent stock at O public auction can be stopped if the Board of Directors stops the sale for valid reason.What is the requirement in able for a non-stock corporation limit, broaden or deny the members to their right to vote. * The action to limit, broaden or deny O the members to their right to vote must be specified into their certificate of membership. The action to limit, broaden or deny O the members to their right to vote must be specified to the books of the corporation. The action to limit, broaden or deny O the members to their right to vote must be specified in the articles of incorporation or the by-laws O None of the aboveA juridical entity created by operation of operation of law, having the right of succession and the powers, attributes, and properties expressly authorized by law or incidental to its existence. * O Partnership O Sole Proprietorship Joint Venture CorporationType of delivery wherein the seller continues to be in possession of the property sold but not as a owner but in some other capacity * O Tradition Brevi O Symbolic Delivery O Traditionga Manu O Tradition Constitutum PosessoriumB promised to contribute his one and only car to the common fund. During the time of the delivery. What kind of / diligence required to observe by B in able to preserve the thing? * O Extra- ordinary diligence O Utmost diligence O Diligence of a good father of family There is no diligence to observe O because the car is still in possession of ABenito sold to Nenita a laptop at a price of P 35,000. They agreed that Benito will pay Nenita cash, P5,000 and for the remaining balance, Benito will give Nenita a piece of jewelry worth P 30,000. Determine the nature of the contract. * O Pledge O Sale O Barter O CommodatumMaria sold her one and only female cow to Martin for P15,000 on January 1, 2021. On January 03, 2021 Maria delivered the cow to Martin. Matin made an initial payment P5,000 and the balance to be paid 15 . days after the delivery. If today January 19, 2021 and Martin failed to pay the balance. Therefore, Maria si considered an unpaid seller. Which among of the following is not a right of Maria * O Right of resale O Right to rescind the sale O Right to lien of goods O Right to collect interest
