ABC Corporation, a private corporation engaged in the business of importing used cars from Japan was issued a certificate of incorporation by virtue of R.A. 27890. Because of a failed business transaction, ABC Corporation sued Mr. X for a damage arising from the latter’s alleged breach of its contractual obligations. Mr. X cannot allege “lack of legal capacity to sue” of ABC Corporation in its motion to dismiss because it has a legal personality conferred by law. Mr. X cannot allege “lack of legal capacity” in its motion to dismiss because it is not allowed to attack the existence of the corporation collaterally. ABC Corporation is a de jure corporation and its existence can be attacked only through a quo warranto proceeding. Attacking the existence of ABC Corporation may be done through a motion to dismiss because its creation is void
ABC Corporation, a private corporation engaged in the business of importing used cars from Japan was issued a certificate of incorporation by virtue of R.A. 27890. Because of a failed business transaction, ABC Corporation sued Mr. X for a damage arising from the latter’s alleged breach of its contractual obligations.
Mr. X cannot allege “lack of legal capacity to sue” of ABC Corporation in its motion to dismiss because it has a legal personality conferred by law.
Mr. X cannot allege “lack of legal capacity” in its motion to dismiss because it is not allowed to attack the existence of the corporation collaterally.
ABC Corporation is a de jure corporation and its existence can be attacked only through a quo warranto proceeding.
Attacking the existence of ABC Corporation may be done through a motion to dismiss because its creation is void
X subscribed to 1,000 shares of stock in ABC. He paid 50% of the subscription but such subscription was later on declared delinquent. The total liability of X, including the balance, accrued interest, costs and other expenses amounted to P50,000. Which bidder is considered the highest bidder in the delinquency sale?
A bid of P45,000 for 500 shares
A bid of P43,000 for 504 shares
A bid of P50,000 for 900 shares
A bid of P40,000 for 300 shares
Iglesia ng Dios Kay Cristo Jesus, Haligi at Suhay ng Katotohanan is a non-stock religious corporation registered in 1936. A group headed by Eliseo Soriano disassociated themselves from such society and succeeded in registering in March, 1988, a new religious corporation named Iglesia Ng Dios kay Kristo Hesus, Haligi at Saligan ng Katotohanan. When the first corporation filed a protest with the SEC against the use of a similar name by the second corporation, the Soriano group caused the registration in April, 1980 of a new corporation named Ang Mga Kaanib sa Iglesia ng Dios Kay Kristo Hesus, H.S.K. , Sa Bansangs Pilipinas, Inc. Can the corporation keep its registered name against the protest of the first corporation?
No, since the SEC has the authority to deregister at all times corporate names to spawn confusion.
Yes, since the second corporation was already registered with the SEC. A vested right was created.
Yes, since a corporate personality was created distinct from the first corporation having different incorporators.
No, since it registered another corporation under a different name to avoid confusion.
Francisco, a government employee, borrowed money from GSIS, secured by a mortgage on her house. Upon failure to pay the installments due, GSIS threatened to foreclose the security. Francisco answered that she could not keep up with the installments and she submitted a proposal whereby she could liquidate the debt. Said proposal was rejected by GSIS Board. However, the Corporate Secretary erroneously sent her a wire that the proposal was accepted. Subsequently when she received summons for foreclosure, she brough action for damages. Is the corporate secretary’s act binding upon GSIS?
Yes, since the Corporate Secretary is clothed with apparent authority
No, since there was no Board Resolution authorizing the Corporate Secretary to perform such act.
No, since the Board rejected the proposal.
Yes, since the Corporate Secretary is a member of the Board.
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