Is this defense tenable No this defense is not tenable Since by laws are only

Is this defense tenable no this defense is not

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Is this defense tenable? No, this defense is not tenable. Since by-laws are only binding as to the persons within the corporation, its effects are only applicable to them and shall not extend to third persons, except only when they have knowledge of its provisions either actually or constructively. 2.Can the by-laws of a corporation provide for the place of meetings of stockholders? No. Section 46 provided that although the place of directors’ or trustees’ meetings may be held at the place determined in the by-laws, the stockholders’ or members’ meetings must always be held at the city or municipality where the principal office of the corporation is located or where practicable in the principal office of the corporation. 3.The authority given to the board of directors to amend its by-laws was revoked in a meeting of stockholders without previous notice that such matter could be acted upon in the meeting. Is the revocation valid? Yes, the revocation is valid. Provided in Section 47 that a revocation is valid notwithstanding that no previous notice was given to stockholders or members of the intention to propose such revocation.
Republic of the Philippines Batangas State University COLLEGE OF ACCOUNTANCY BUSINESS ECONOMICS AND INTERNATIONAL HOSPITALITY MANAGEMENT Batangas City Title VI Meetings I.Definitions Define or give the meaning of the following: 1.Regular meeting of stockholders or member; Regular meetings of stockholders or members shall be held annually on a date fixed in the by-laws, or if not so fixed, on any date after April 15 of every year as determined by the board of directors or trustees. 2.Voting trust agreement; and In voting trust agreement, one or more stockholders of a stock corporation may create a voting trust for the purpose of conferring upon a trustee or trustee the right to vote and other rights pertaining to the shares for a period not exceeding five years at any one time. 3.Representative voting. Representative voting is where a stockholder or member may vote, directly or indirectly, through a representative. Section 54 authorizes executors, administrators, receivers, or other legal representatives to attend and vote in behalf of the stockholders or members under their administration without need of any written proxy. II.Discussions 1.Give requisites for valid meeting of stockholders or members. The requisites for a valid meeting of stockholders or members are: (1)It must be held at the proper place; (2)It must be held at the stated date and at the appointed time or at a reasonable time thereafter; (3)It must be called by the proper person; (4)There must be previous notice; and (5)There must be a quorum. 2.What are the three meanings of the term “proxy”?
Republic of the Philippines Batangas State University COLLEGE OF ACCOUNTANCY BUSINESS ECONOMICS AND INTERNATIONAL HOSPITALITY MANAGEMENT Batangas City The term proxy designates the formal written authority given by the owner or holder of the stock, who has a right to vote it, or by a member, as a principal to

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