Question 27 1 pts When the principal office of the corporation is in Makati City, it can hold its stockholders meeting in any city within Metro Manila O True O False Question 28 1 pts For regular corporations, an officer cannot be both President and Secretary or President and Treasurer. O True O False Question 29 1 pts Dealings of Directors/Trustees with the corporation shall be valid if the presence of the Director/Trustee was not needed for a quorum to approve the subject contract; and the vote of the Director/Trustee was not needed to approve the contract; and the contract is fair and reasonable. O True FalseQuestion 24 1 pts A corporation with a 15-person Board held a board meeting where only 8 members were present. The Board passed a resolution to amend the Articles of Incorporation with a vote of 5 in favor, 3 against. O The resolution is valid O The resolution can be ratified by vote of 2/3 of the OCS O The resolution is valid if directors who voted own 2/3 of the OCS O The resolution invalid Question 25 1 pts Disregarding the separate juridical personality of a corporation when it is established that the corporate legal entity is used as a cloak for fraud or illegality O Piercing the veil of corporate fiction O Trust Fund Doctrine O Corporate opportunity O Juridical personality Question 26 1 pts Directors cannot participate in or attend Board Meetings through proxy O True FalseQuestion 21 1 pts The 7-man Board of We R Farmely Corp. had a board meeting with 4 members present. In the said meeting a resolution was passed voting 3:1 approving the sale of one of the company's motor vehicles. O Meeting is valid but he resolution is invalid O Both meeting and resolution are invalid O Meeting is invalid but resolution is valid O Both meeting and resolution are valid Question 22 1 pts A corporate combination where two or more corporations unite whereby one corporation remains in being, absorbing the other which ceases to be a separate corporation O Consolidation O Dissolution Merger O Joint venture Question 23 1 pts Notarized document filed with the SEC conferring to a trustee the right to vote and other rights pertaining to the share/s of stock for a period not to exceed 5 years O Articles of Incorporation O Proxy O Voting Trust Agreement O Deed of Assignment