TRUE OR FALSE

1. Only a natural person can be an incorporator of a corporation.

2. A corporation as a natural entity cannot be made as an incorporator of another corporation.

3. A married woman cannot be an incorporator without the consent of the husband, if it involves the common property under the system of absolute community property.

4. Any person of legal age as long as he owns at least one share of stock is qualified as incorporator.

5. The residence of the corporation is the place where any of its branch is situated.

6. A corporation cannot be held liable for torts committed by its officers for a corporate purpose.

7. A corporation has no right to due process.

8. A corporation has the constitutional right against self-incrimination.

9. As a rule, a corporation is entitled to moral damages.

10. A corporation can be made civilly and criminally liable.

11. A corporation, in order to acquire corporate existence, should first adopt its By-Laws and file the same with the Securities and Exchange Commission.

12. In case of mortgaged or pledged shares in stock corporations, the pledgor or mortgagor generally has the right to attend stockholders' meetings and vote. However, the pledgee or mortgagee may be allowed to vote if such right is expressly given in writing and recorded in the books of the corporation.

13. The Board of Directors of a stock corporation may declare dividends out of the capital stock of the corporation.

14. An act by the corporation which is absolutely illegal is nonetheless capable of ratification by the corporation's stockholders.

15. Mr. A appoints Cecile to attend the stockholders' meeting of Corporation X and vote on his behalf. The terms of the proxy state that it shall be valid for six (6) years from the time it was executed. Thus, Cecile can attend the shareholders' meetings and vote for Mr. A for the entire 6 years in accordance with the authority granted her.