TRUE OR FALSE

1. Lawyers of complainants against a corporation can subpoena the corporate books andrecords of the corporation relating to the case being filed against the corporation.
2. A business combination where a subsidiary is brought back into the parent company as adivision of the latter is called mergers.
3. The number of shareholders in the absorbed company becomes immaterial as it willcease to exist.
4. If a corporate act that a stockholder objected to was disapproved, the stockholder can nolonger exercise his appraisal rights even if it resulted in distrust between the stockholderand the directors.
5. Valuation of the shares of a dissenting shareholder cannot take into account any increasein the value of the shares due to the corporate act that the shareholder objected to.
6. Valuation of the shares can never be entrusted to the corporation as it would be biased.
7. Nonstock corporations cannot be organized for profit.
8. A resolution authorizing a manufacturing comply to engage in leasing of substantially allits assets can result in a stockholder claiming for appraisal rights.

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