• Why can a stockholder have the right to inspect corporate books and records? Is this right absolute or allows for exception? Explain.

• X, a stockholder, requests that he be allowed to inspect certain corporate records giving a proper purpose for the exercise of the right. Can the corporation refuse on the allegation that it suspects that X has interior or improper intentions?

• In number (2) above, the inspection shall be conducted by L, a lawyer, who is not a stockholder of the corporation, without the presence of X. Is this allowed?