Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
In a partnership, can a partner transfer his interest without the consent of other partners?
In a partnership, can a partner transfer his interest without the consent of other partners?
- No, only consent of the majority of the partners is required.
- Yes, as long as the majority of the partners agree.
- No, unanimous consent of all existing partners is required. (correct)
- Yes, the partner can transfer his interest at any time.
What is the default term of existence for a corporation according to the Revised Corporation Code?
What is the default term of existence for a corporation according to the Revised Corporation Code?
- 10 years
- Perpetual existence (correct)
- Subject to annual renewal
- 5 years
When can a partnership be dissolved before the agreed term?
When can a partnership be dissolved before the agreed term?
- Whenever there is a cause under Art.1830 and 1831. (correct)
- Only if all partners unanimously agree to dissolve it.
- If any partner wants to leave.
- If one partner becomes incapacitated.
Which type of corporation has the right of succession?
Which type of corporation has the right of succession?
Signup and view all the answers
Can a stockholder transfer shares without the consent of other stockholders in a corporation?
Can a stockholder transfer shares without the consent of other stockholders in a corporation?
Signup and view all the answers
What happens to a partnership when any partner ceases to be associated with the business?
What happens to a partnership when any partner ceases to be associated with the business?
Signup and view all the answers
