Philippine law

1. Zac is a stockholder of Abra Corporation. The corporation increased its authorized capital stock but Zac was not afforded the opportunity to purchase the number of shares proportionate to his stockholding in the corporation. Zac later discovered that many stockholders were also denied of their pre-emptive right.

Can Zac file a representative suit in behalf of himself and the other stockholders against Abra Corporation? Will your answer be the same if what has been denied is their right to vote in the election of the board of directors? Explain and support your answers.

2.Distinguish a cooperative from a private corporation.Give 3 distinctions.