What law governs private corporation?

Who are incorporators?

Who is a subscriber?

When can non-voting shares be entitled to vote?

What is capital stock?

What is capital?

Which of the following statements is false?

A. The shares of stock of a corporation may be divided into series of classes of shares, any of which may have rights and privileges.

B. There shall always be a class or series of shares which have complete voting rights.

C. The rights, privileges, and restriction in classifying shares of stock must be stated in the Articles of Incorporation.

D. A corporation may classify all its shares as non-voting shares.

How much should be the consideration for a no-par value share?

What are the limitations in the issuance of no-par value shares?

What is a founder's shares?

What is a redeemable share?

The steps in the creation of a corporation.

When may the Articles of Incorporation or its amendment be rejected by the Securities and Exchange Commission?

When may the Articles of Incorporation be suspended or revoked?

What is a corporation by estoppel?

A. It is an association of persons, which is so defectively formed but which is considered a corporation in relation to those who cannot deny its existence due to their agreement, admission, or conduct.

B. It is a corporation which is created in strict or substantial compliance to the corporate statutes.

C. It is a corporation so defectively created but nevertheless the result of a bonafide attempt to incorporate under existing statutory authority.

D. It is an association of persons which exercise the powers of a corporation without an attempt to incorporate in accordance with law.

Which of the following statements is true?

A. Corporate powers are exercised by all stockholders or members of a corporation.

B. The directors or trustees of a corporation may exercise full discretionary powers without limitation.

C. The board must exercise its power as a collective body.

D. All of the above.

Which of the following statements is false?

A. The President of the Board of Directors must be a director.

B. The treasurer of the corporation may not be a director.

C. The secretary may be a director and a citizen and resident of the Philippines.

D. The secretary may not own any share of stock because she is treated as an employee of the corporation.

What are the qualifications of directors/ officers of the corporation?

Requisites for declaration of dividends?

Two or more kinds of dividends paid by the corporation is called:

A. Cash dividend

B. Composite dividend

C. Property dividend

D. Scrip dividend

Which of the following cannot be lawfully exercised by a non-stock corporation?

A. Pay dividends

B. Elect trustees

C. Amend the Articles of Incorporation.

D. Adopt by-laws

What is that portion of its profits, which the corporation by its directors, set apart for ratable division among stockholders.

The right given to the stockholder to dissent and demand payment of the fair value of their shares is called:

A. Right of proxy

B. Appraisal right

C. Preemptive right

D. Stock right.

What is a limited partnership?

A. One whereby some partners are not bound by the obligation of the partnership.

B. One which requires more limited partners than general partners.

C. One which requires more general partners than limited partners.

D. One whereby substantial compliance with Art. 1844 (1) (a-n) is sufficient for its formation.

Which of the following statements is false?

A. The shares of stock of a corporation may be divided into series of classes of shares, any of which may have rights and privileges.

B. There shall always be a class or series of shares which have complete voting rights.

C. The rights, privileges, and restriction in classifying shares of stock must be stated in the Articles of Incorporation.

D. A corporation may classify all its shares as non-voting shares.

A written contract to purchase newly issued shares of stock is:

A. Subscription contract

B. Contract of sale

C. Redemption contract

D. Contract of contribution

Who can become incorporators?

What are the characteristics of a corporation?

What is the continuation of the corporation's legal personality despite the changes in the ownership of shares is called?

What is a corporation granted by the State a franchise for the performance of public duties but which are organized for profit called?

Which of the following is an activity in the organization phase of the corporation?

A. Promoting to the public the idea of organizing a corporation

B. Issuingshares of stock with par value

C. Formulating the articles of incorporation

D. Formulating the by-laws of the corporation

What principle allows the disregarding of the separate juridical personality of the corporation from its stockholders?

Who are entitled to appraisal right?

What is Trust Fund Doctrine?

Which of the following is correct?

A. A limited partner exercises the same rights as a general partner.

B. A limited partner has more rights and less liabilities than a general partner.

C. A limited partner may be appointed as manager of the partnership.

D. A limited partner has the right to demand true and full information of all things affecting the partnership.

Who is a special partner?

Who are not liable to third persons for partnership obligations?

Suppose B delivered a parcel of land as his contribution but the partnership was evictedby the real owner C, what is the obligation of B?

A. To pay the agreed interest

B. To pay the legal interest

C. To pay interest from time of eviction

D. Toanswer for his warranty against eviction as a vendor in a contractof sale

When can an industrial partner engage in business for himself?

What are the legal relations created by the contract of partnership?

The change in the relations of the partners caused by one ceasing to be associated in the carrying on of partnership business is called ___?

Who shall be prioritized in the distribution of partnership assets during dissolution?

What do you call the the process of settling partnership affairs:

Which of the following is not a cause for judicial dissolution?

A. Death of a partner

B. Insanity of a partner

C. Incapacity of a partner

D. The business of the partnership can only be carried on at a loss.

Dissolution of the partnership terminates all authority of the partners to bind the partnership.

A. True

B. False

C. The industrial partners can

D. The managers can

At whose instance shall a partnership at will be liquidated??

A. Industrial partner

B. General partner

C. Heirs of a deceased partner

D. Any partner in good faith

What causes the dissolution of a particular partnership?

What is the effect of registration of a partnership?

A. It vests juridical personality to a partnership so it can validly engage in business.

B. It gives authority to partners to manage the business.

C. It is the means for the partnership to acquire a business name or trade name

D. It gives notice to third parties of the existence of a partnership

What are the characteristic of a contract of partnership?

Who are not capacitated to become a partner?

Which of the following statements is false?

A. Death of a general partner dissolves the partnership

B. Co-ownership is for common enjoyment

C. Death of a co-owner dissolves the co-ownership

D. The purpose of a partnership is to make profits.

Which of the following statements is false?

A. A partnership is created by voluntary agreement of the parties.

B. A corporation's birth is on the day a certificate of incorporation is issued by the SEC or when its charter is approved by Congress.

C. Death of a stockholder dissolves the corporation

D. A partner may bind this co-partner for acts within the scope of the business.

Which of the following statements is false?

A. A partnership in itself is a juridical person

B. A partnership has the capacity to act as a legal entity

C. The partnership is a different person from that of its partners

D. Registration with SEC vests juridical personality to a partnership.

A and B are not partners but B represented to X that they (A and B) are partners. The representation was made in the presence of A who did not object. What is the presumption under the law?

When the partnership is unlawful, which of the following results?

A. The proceeds and instruments used shall be forfeited in favor of the least guilty partner, or to the partner who did not participate in the illegal purpose.

B. The proceeds and instruments used shall not be forfeited if they belong to third parties.

C. Properties which were the object of unlawful commerce shall be preserved for later use.

D. The capital contributions of the partners including the profits, if any, will be forfeited.

When it is not clear whether the universal partnership formed is that of all present property, what shall it be considered as?

A. Of all present property

B. Of all profits only

C. Limited Partnership

D. Particular Partnership

It is the preferential right of all stockholders of stock corporation to subscribe to all issues or disposition of shares in proportion to their respective shareholdings.