Firm Code of the Phils. -- Exercises

 Corporation Code of the Phils. - Physical exercises Essay

Multiple Choice

1 . Listed here are the attributes of a private corporation. What is the exception?

A) It is an manufactured being

B) It is created by law

C) It has the best of succession

D) It is power attributes, or real estate are specifically authorized legally or event to its existence

E) non-e in the above

2 . A corporation has a personality of its own since it is legal or a juridical person. Which among the following can be not a outcome of it is separate persona?

A) It might acquire and still have property of all types are well as incur bills and other contractual obligations.

B) It has a nationality or citizenship of a unique apart from that from the stockholder's

C) Its commitments are commitments of the vast majority shareholder:

D) It enjoys constitutional safeguard.

3. Piering the veil of business entity is regarded as an exception for the rule of corporate fiction, i. e, that a company possesses a personality of its own distinct and distinct from the personas of the corporators of the organization. Which in the following may be the consequence of ‘piercing the veil of corporate entity'?

A) The organization will be regarded a mere connection of individuals without a persona of its own

B) The persons crafting the corporation will be considered the same as the corporation;

C) The debts of the corporation may be considered as the liabilities in the stockholders or perhaps vice-versa;

D) All the above

some. Which of the following is definitely not a likeness between a corporation and a partnership?

A) Both have juridical personalities distinct from the ones from the people composing all of them;

B) The two can act only through their real estate agents

C) Have continuity of existence

D) Both may well own house in their individual names

5. They are companies formed or organized pertaining to the government of the portion of express or all those created by state as the own unit for the accomplishment of its own community purposes.

A) Private corporations

B) Public Corporation

C) Quasi-public firm

D) Company by prescription

6. The following are typical types of public businesses. Which is the exception?

A) Province of Romblon

B) City of Manila

C) Municipality of Malolos

D) Sociable Security System

7. They are companies consisting of a single member simply. It is usually prepared for the purpose of applying and managing as trustee, the affairs, property and temporalities of any religious denomination, sect or house of worship. It may be formed by the chief archbishop, bishop, priest, minister, rabbi or other presiding elder of such spiritual denomination, sect or house of worship.

A) Ecclesiastical corporations

B) Lay companies

C) Firm sole

D) Religious communities

8. They are really corporations that are organized for spiritual purposes or to get the promotion of religion in contrast to lay businesses that are created for secular or temporal goal.

A) Ecclesiastical corporations

B) Eleemosynary corporations

C) Detrimental corporations

D) Corporation mixture

9) This can be a corporation in whose articles of incorporation offer that (1) all the businesses issued inventory of all classes, exclusive of treasury shares, will probably be held of record by simply not more than 20 (20) people; (2) all the issued inventory of all classes shall be be subject to one or more constraints on copy; and (3) the shares shall not become listed in any kind of stock exchange or perhaps be wanted to the public.

A) Open company

B) Restricted corporation

C) Corporation by estoppel

D) Close company

10. In the event that certain persons assume to behave as a organization knowing that to be with no authority for this, they are accountable as general partners for a lot of debts, financial obligations and damages incurred or perhaps arising as a result of such assumptions as a firm. This situation gives rise to a

A) De facto corporations

B) Corporation simply by prescription

C) Corporation by simply estoppel

D) Corporation simply by misrepresentation

10. No . We – Five persons...

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