LAW
Malakas Corporation and Maganda Corporation form a union, wherein Malakas Corporation absorbed Maganda Corporation. What kind of union form by the two corporations? O Merger O Transfer O Buy Out Consolidation is a natural, not an essential element of a contract, and is deemed incorporated in contract of sale. O Express Warranty O Express Condition O Implied Warranty O Implied ConditionWhen a corporation acquires juridical personality? O Upon the issuance of the certificate of incorporation Within 30 days from the receipt of O the notice of the issuance of the certificate of incorporation O Upon the filling of by-laws. O Upon the filling of the articles of incorporationWhat is the requirement in able for a non-stock corporation limit, broaden or deny the members to their right to vote. O None of the above 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 the members to their right to vote O must be specified in the articles of incorporation or the by-laws. The action to limit, broaden or deny the members to their right to vote O must be specified to the books of the corporation.The SEC wanted to determine the nationality of MAHINHIN CORPORATION; they used the criteria of "the place where the corporation incorporated". The SEC performed what kind of test? Wartime test O Incorporation test Control test Domicile testAndre and Barba are partners in BATO and Co., with Barba as managing partner. Zena is indebted to Barba in the sum of 5,000.00 and will mature on February 18, 2021; Zena is also indebted to BATO and Co. in the sum of 10,000.00 and will mature on February 25, 2021 . On February 24, 2021, B collected the amount of 5,000 from C and he issued a personal receipt. How the payment of X will be distributed? BATO and Co. - P3,333 and Barbara O - P1,667 BATO and Co. - P2,500 and Barbara O - P2,500 BATO and Co - P5000 Barbara - P5000Statement |: Assignment of credit is a contract where one person (creditor/assignor) transfers to another his rights and actions against a third person (debtor) to another person (assignee) in consideration of a price certain in money. Statement II: An assignment of credit not only entitles the assignee to the credit, but also the power to enforce it against the debtor of the assignor. * Only Statement 2 is true O Both statements are true Only Statement 1 is true O Both statements are falseType of delivery of a movable by mere consent or agreement. Pointing at the thing. O Traditionrevi O Tradition Constitutum Posessori Symbolic Delivery O Traditionga ManuWhich among of the following corporation actions does not requires the vote of the Board of Director or Trustees? * O Delegate the power to amend By Laws O Amend the By-Laws O Revocation of delegated Power to amend By-Laws O Delegate the power to adopt New By Laws The default corporate term of a corporation under the Revised Corporation Code. O Perpetual existence O The Code does not provide O 50 years O 30 yearsThe capital stock of MAGALANG CORPORATION is divided into shares and it authorized to distribute to the holders of such shares, dividends, or allotments of the surplus profits on the basis of the shares held. What kind of corporation is MAGALANG CORPORATION? * O Special corporation O Stock corporation Religious corporation O Non-stock corporationThe following are the constitutional rights of a corporation except: O Right against self-incriminatin O Due process O Equal protection of the law O Protection against unreasonable searches and seizuresHow a dissenting stockholder who votes against a proposed corporate action may exercise the right of appraisal? * Making a verbal demand to the O corporation for the payment of the fair value of shares. Making a written demand to the O corporation for the payment of the fair value of shares. Making a verbal demand to the O board of directors for the payment of the fair value of shares. Making a written demand to the C board of directors for the payment of the fair value of shares.According to its articles of incorporation, the corporate term of GOOD LIFE CORPORATION will expire on April 30, 2021. The Board of Director wanted to extend the corporate term of the said corporation. When the corporate term of a company with a specific period may be extended or shortened? April 30, 2019 O April 30, 2017 O April 30, 2018 O April 30, 2020These are the shares of stock which have been issued and fully paid for, but subsequently reacquired by the issuing corporation. * C Redeemable shares Founder's share Treasury shares O Capital ShareLuna is a member of a non-stock corporation: she's planning to transfer her membership to Mystica. Is she allowed to transfer her membership? * Yes, membership in a non-stock D corporation is transferable even without the approval of board of trustees. Yes, membership in a non-stock corporation is transferable. No, membership in a non-stock corporation is not transferable No, membership in a non-stock corporation is not transferable unless allowed by the board of trusteesNon-payment of the fair value of the share of dissenting stockholder produces the following effect. * O None of the above Voting rights will be restored O Dividend rights will be restored O Both A and B Type of share wherein there a specific money value fixed in the articles of incorporation and appearing in the certificate of stock for each share of stock of the same issue.* O No par value share O Common share Preferred share O Option 5
