please provide the following answer with the given instructions. Thank you
PROBLEM SET 2 (FINALS PERIOD) (50 points) INSTRUCTIONS: 1. Read each Problem carefully: 2. This is a discussion exam to assess and fest your understanding of the provisions of the law. Hence, your answers should be in an essay form; 3. In answering the problem, observe the following: (a] First, answer the questions squarely [Yes or No]: bj Then, explain your position; and [c) Finally, cite the article where you based your answers; 4. Each answer [per Item/Question) must not be less than 40 words; but not more than 100 words and no need to restate the Problems; 5. The template of your work shall be: [a) Short bond paper [margin); [bj Century Gothic 12 (font); [c) Justified (margin); [d) Single space: [e) Observe proper margin and space between paragraphs; (f) PDF [format): TOPIC COVERAGE: WEEK 14 - Stock and Stockholders; WEEK 15 - Corporation Books and Records; Merger and Consolidation; WEEK 16 - Non-stock and Other Kinds of Corporations; Dissolution; WEEK 17 - Foreign Corporations; PROBLEMS: 1. What is a "remedial right"? Explain the following remedial rights of the stockholders and give each an example: a. An Individual Suit; b. A Representative Suit; and C. A Derivative Suit. (15 points) 2. A certain contract was entered into in the name of the corporation with the unanimous approval of all the stockholders. Is the contract binding on the corporation? Why or why not? (5 points) 3. X, stockholder, requests that he be allowed to inspect certain corporate records giving a proper purpose for the exercise of the right. Can the corporation refuse on the allegation that it suspects that X has an ulterior or improper intention? Why or why not? (5 points) 4. Same facts - the inspection will be conducted by L (a lawyer) who is not a stockholder of the corporation, without the presence of X. Can this be done? Why or why not? (5 points) 5. Define merger, and Consolidation; Give each an illustration. (5 points) 6. X, Inc. sold all its assets to Y, Inc. Give the effects of such sale on the existence of X, Inc. and the liability of Y, Inc. for the debts of X, Inc. (5 points) 7. Z, Inc. is a close corporation. No meeting has been held to elect directors and all the officers were appointed by the stockholders. Is this allowed by law? Why or why not. Cite the applicable provision. (5 points) B. F, a foreign corporation, transacts business in the Philippines without a license. May it sue and be sued? Why or why not? What is the purpose of the law in requiring a license? Cite the applicable provision. (5 points) - END
