Corporation governed by special laws aside from the

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Law on Corporation

Corporation governed by special laws aside from the requirements specified from SOC SCI 0001 at De La Salle University

16 .   These are the shares of stock which have been issued and fully paid for , but subsequently reacquired by the issuing corporation :
A . Redeemable shares
B . Treasury shares
C . Founder ’ s share
D . None of the three
Answer:  B .   Treasury shares
17 .   In the amendment of the Articles of Incorporation of a stock corporation , the following is necessary :
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18 .   Corporation governed by special laws , aside from the requirements specified under the corporation laws , in order that their articles of incorporation may be approved or accepted , must present before the Security and Exchange Commission :
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19 .   The following are some of the requisites of a de facto corporation . Choose the exception :
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20 .   The following are the qualifications of director in a corporation . Choose the exemption :
A. Majority of the directors must be Filipino citizens
B . He must own at least one share of the stock in his name
C. Majority of the corporate directors must be residents of the Philippines
D. He must not have convicted by final judgment of an offense carrying an imprisonment exceeding 6 years or an offense constituting a violation of the Corporation Code
Answer:  A.   Majority of the directors must be Filipino citizens
21 .   The secretary of a stock corporation shall be :
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22 .   Directors or trustees who willfully and knowingly vote or assent to patently unlawful act of the corporation or who are guilty of gross negligence or had faith in directing the affairs of the corporation or acquire any personal or pecuniary interest in conflict with their duty shall be liable :
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23 .   The following are methods of dissolving a corporation :
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24 .   Three of the following enumeration are not authorized to issue no par value shares of stock . Which is the exception ?
A. Insurance companies
B. Industrial companies
C. Public utilities
D. Trust companies
Answer:  B.   Industrial companies
25 .   Any stockholder of a corporation shall have the right to dissent and demand payment of the fair value of his share / s in three of the following corporate acts . Which is the exception ?
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26 .   The authorized capital stock of a proposed corporation is P100,000 divided into 1,000 shares with a par value of P100.00 each . The minimum amount of subscription that must be paid is :
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27 .   In the matter of management of the business affairs of a corporation , this is supreme :
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28 .   This is the equitable right of stockholders to subscribe to newly issued shares of the corporation in proportion to their present shares in order to maintain their equity in the corporation .
A . Right of redemption
B. Concept of corporation entity
C. Right to sue and be sued
D. Pre-emptive right
Answer:  D.   Pre-emptive right
29 .   This is a written acknowledgement of an interest of a stockholder in the corporation .
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30 .   These are the persons who sign the Articles of Incorporation , who may or may not be subscribers of shares
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31 .   Choose the minimum requirement of the Corporation Law to corporate formation :
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18. Corporation governed by special laws, aside from the requirements specified under the corporation laws, in order that their articles of incorporation may be approved or accepted, must present before the Security and Exchange Commission:A.A favorable recommendation from the Ministry of FinanceB.A copy of previous income tax return and a statement of assets, liabilities and net worthC.A favorable recommendation of the appropriate government agency to the effect that such articles or amendment is in accordance with law.D.An undertaking to change the name of the corporation if found that there is already registered with the SEC a name or a name similar to the name of this corporationANS: C
19. The following are some of the requisites of a de facto corporation. Choose the exception:
20. The following are the qualifications of director in a corporation. Choose the exemption:
21. The secretary of a stock corporation shall be:
22. Directors or trustees who willfully and knowingly vote or assent to patently unlawful act of the corporation or who are guilty of gross negligence or had faith in directing the affairs of the corporation or acquire any personal or pecuniary interest in conflict with their duty shall be liable:A.As trustee for the corporationB.Criminally for violation of the corporation codeC.Jointly and severally for the damages suffered by the corporationD.None of the aboveANS: C
23. The following are methods of dissolving a corporation:
24. Three of the following enumeration are not authorized to issue no par value shares of stock. Which is the exception?
25. Any stockholder of a corporation shall have the right to dissent and demand payment of the fair value of his share/s in three of the following corporate acts. Which is the exception?

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