Podcast
Questions and Answers
What is the primary characteristic that distinguishes a corporation from its stockholders?
What is the primary characteristic that distinguishes a corporation from its stockholders?
- The right to sue and be sued
- Separate and distinct personality (correct)
- The power to incur obligations
- The ability to own and possess property
What is the source of a corporation's powers and attributes?
What is the source of a corporation's powers and attributes?
- The laws and regulations of its organization (correct)
- The articles of incorporation
- The board of directors
- The shareholders' agreement
What is the consequence of a corporation being considered an artificial being?
What is the consequence of a corporation being considered an artificial being?
- It is not considered a juridical person
- It is possessed of a personality separate and distinct from its stockholders (correct)
- It is not liable for its actions
- It has no right to sue and be sued
What is the primary benefit of the doctrine of separate entity?
What is the primary benefit of the doctrine of separate entity?
According to the Revised Corporation Code of the Philippines, what is the basis of a corporation's existence?
According to the Revised Corporation Code of the Philippines, what is the basis of a corporation's existence?
According to the Doctrine of Legal Entity, who has the right to object to the admission in evidence of documents illegally seized from the corporation?
According to the Doctrine of Legal Entity, who has the right to object to the admission in evidence of documents illegally seized from the corporation?
What is the consequence of the Doctrine of Legal Entity regarding corporate property?
What is the consequence of the Doctrine of Legal Entity regarding corporate property?
Under what circumstances can the legal fiction of a corporation be disregarded?
Under what circumstances can the legal fiction of a corporation be disregarded?
What is the consequence of the Doctrine of Legal Entity regarding the right of action?
What is the consequence of the Doctrine of Legal Entity regarding the right of action?
What is the term used to describe the situation where the legal fiction of a corporation is disregarded?
What is the term used to describe the situation where the legal fiction of a corporation is disregarded?
