Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

PLEASE INCLUDE THE ARTICLE NUMBER. THANK YOU 4. Ang Corp. has an outstanding capital stock of One hundred Fifty Million Pesos (P 150,000,00000) divided into

PLEASE INCLUDE THE ARTICLE NUMBER. THANK YOU

image text in transcribed
4. Ang Corp. has an outstanding capital stock of One hundred Fifty Million Pesos (P 150,000,00000) divided into 4,000 shares of stock. The shares of stock are owned by three main groups of shareholders. The Ong Group, who owns 2,500 shares, the Tan Group who owns 1,000 shares and the Go Group who owns 500 shares. The board of directors of Ang Corp. consists of five (5) directors, Ace, Brian, Alfred, Jared and Maynard. A move was made by the Tan Group to remove Brian as a director of the corporation in meeting called for that purpose. The reason for the removal of Brian is so that they can elect a new director Michael who comes from their group. Brian is from the Go Group. During the election Brian was elected to be removed from the board of directors of the corporation. Is his removal valid? Explain your answers fully and provide your legal basis (5 pts.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Tort Law Responsibilities And Redress

Authors: John C. P. Goldberg, Leslie Kendrick, Anthony J. Sebok, Benjamin C. Zipursky

5th Edition

1543806805, 978-1543806809

More Books

Students also viewed these Law questions