Quiz: Powers of the Corporation/ Stocks and stockholders

1. Malasakit Corporation has an authorized capital stock of P 10,000,000.00 divided into 200,000 shares which were all offered for subscription. Only 150,000 shares were subscribed including 20,000 of Go Bong. Is Go Bong entitled to pre-emption in the remaining 50,000 shares?

2. Leni Love Redo Corporation issued shares with a par value of P 50.00. Subsequently, the corporation purchased the shares at par value. If the same shares are sold by the corporation for only P 40.00 per share. Is the Board who affected the sale be held liable for the difference or the water in the stock?