TRUE OR FALSE

1. The stockholders or members are legally entitled to fill in the vacancy if the the same resulted from the removal of the director or expiration of his term.

2. The number of Directors may be more than (15) fifteen, as long as the Articles of Incorporation allows it.

3. Stockholders may elect less than the total number of directors specified in the Articles of Incorporation.

4. The value of the interest of the retiring partner in the partnership is determined at the date of actual demand and not the date of dissolution

5. Like in the formation of a private corporation, Articles of Partnership is a requisite in a Contract of Partnership