Bylaws Compensation and Amendments Approval Quiz
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Questions and Answers

What remedy does Amihan have in case of non-payment by Belinda according to the contract?

  • Since the obligation is deemed to be one with a period, the remedy of Amihan is to go to court and ask the court to fix the period.
  • The remedy of Amihan is to file a case of quo warranto with the Court of Appeals.
  • There is none because the obligation is one with a condition. It is not guaranteed.
  • Both B and C. (correct)
  • What is the delay on the part of the debtor otherwise referred to as?

  • Mora accipiendi
  • Compensatio morae
  • Mora solvendi (correct)
  • None of the choices
  • In the context of fraud vitiating consent, what kind of fraud makes the contract voidable?

  • Dolo causante (correct)
  • Dolo incidente
  • Dolo revilla
  • None of the above
  • If Amihan and Belinda's contract had a fixed period for payment, what would be Amihan's remedy in case of non-payment?

    <p>Amihan has no remedy as the payment period was fixed.</p> Signup and view all the answers

    What legal action can Amihan take if Belinda fails to pay under a condition in the contract?

    <p>Amihan must wait until Belinda's means permit him to pay.</p> Signup and view all the answers

    In the context of delayed acceptance by a debtor, what term is used to describe it?

    <p>Mora accipiendi</p> Signup and view all the answers

    In the absence of any provision fixing their compensation in the bylaws, what will the directors or trustees generally not receive?

    <p>None of the above</p> Signup and view all the answers

    Once amendments to the Articles have been submitted to the SEC, how long does the SEC generally have to act on them?

    <p>6 months</p> Signup and view all the answers

    Under the Revised Corporation Code, what is a foreign corporation not allowed to do?

    <p>Form a partnership</p> Signup and view all the answers

    When is ownership over a property transferred?

    <p>Delivery of the subject matter</p> Signup and view all the answers

    What principle prohibits an indeterminate thing from being the object of destruction?

    <p>Genus nunquam perit</p> Signup and view all the answers

    For corporations vested with public interest, what percentage of independent directors must the board generally have?

    <p>30%</p> Signup and view all the answers

    Who is entitled to the 4 piglets that Peppa the pig gave birth to after the perfection of the contract but before delivery?

    <p>Peppa, because she is the mother of the piglets</p> Signup and view all the answers

    Prior to December 31, 2023, what kind of right does the buyer possess when buying a truck worth P2,000,000?

    <p>Personal right</p> Signup and view all the answers

    Which among the following is considered to be the least defective type of contract?

    <p>Rescissible</p> Signup and view all the answers

    If Napoy, Lizzy's guardian, sold Lizzy's car for less than its fair value, what type of contract did Napoy enter into?

    <p>Rescissible</p> Signup and view all the answers

    What kind of damages are awarded to vindicate a right?

    <p>Nominal damages</p> Signup and view all the answers

    Any director or trustee of a corporation may be removed from office by a vote representing at least what portion of the outstanding capital stock?

    <p>2/3</p> Signup and view all the answers

    What principle states that no one can be a member of a partnership association without the consent of all other associates?

    <p>Delectus personae</p> Signup and view all the answers

    Who is allowed to enter into a contract of partnership?

    <p>Deaf mutes who know how to write</p> Signup and view all the answers

    In a scenario where three out of nine directors in XYZ Corporation were validly removed, who has the power to fill the vacancies?

    <p>The remaining eight directors</p> Signup and view all the answers

    If four out of eleven directors in ABC Corporation died in a car accident, who can fill such vacancies?

    <p>The remaining seven directors</p> Signup and view all the answers

    In the case where five out of ten directors in ELJ Corporation resigned due to internal conflict, who can fill these vacancies?

    <p>The remaining seven directors</p> Signup and view all the answers

    What term means 'choice of the person' and relates to the principle that requires unanimous consent for membership in a partnership association?

    <p>Delectus personae</p> Signup and view all the answers

    What is the minimum percentage of stockholdings considered 'nominal' for purposes of interlocking directors?

    <p>10%</p> Signup and view all the answers

    If Y receives payment of the principal without first receiving the interest, what is the effect according to the scenario provided?

    <p>This amounts to a condonation of the interest.</p> Signup and view all the answers

    When X paid the installment for June 2023 but received a receipt for July 2023, what is the effect based on the scenario?

    <p>There is now a disputable presumption that the June 2023 installment has been paid.</p> Signup and view all the answers

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