TRUE OR FALSE

1. Treasury shares are issued shares that do not have the status of outstanding shares

2. A disloyal director may be exempted from liability to the corporation if his disloyal act is ratified by the vote of the stockholders owning or representing at least 2/3 of the outstanding capital stock.

3. Preference may be given to some limited partners over other limited partners if such is stated in the certificate

4. The erring board members in a corporation shall be held solidarily liable for all the damages resulting therefrom suffered by the corporation, its stockholders or members, or other persons such as corporate creditors

5. As a rule and without any demand, a limited partner is entitled to receive his actual contribution, either real or personal property.