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Questions and Answers
What was the total amount of the loan secured by Y Corp from X Bank?
What was the total amount of the loan secured by Y Corp from X Bank?
- P8,000
- P4,000
- P1,000
- P120,000 (correct)
What was the par value of each share of stock issued to X Bank?
What was the par value of each share of stock issued to X Bank?
- P400 per share
- P1,000 per share
- P4 per share
- P1 per share (correct)
What was the total value of the stock certificates issued to X Bank?
What was the total value of the stock certificates issued to X Bank?
- P16,000
- P8,000 (correct)
- P4,000
- P12,000
Who eventually became the holder of the stock certificates?
Who eventually became the holder of the stock certificates?
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What is the right of the preferred stock holders in terms of dividend?
What is the right of the preferred stock holders in terms of dividend?
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When can the preferred shares be redeemed according to the stock certificates?
When can the preferred shares be redeemed according to the stock certificates?
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What type of redemption is described in the stock certificates?
What type of redemption is described in the stock certificates?
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Who has the option to redeem the preferred shares according to the stock certificates?
Who has the option to redeem the preferred shares according to the stock certificates?
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Why did Y Corp proceed against X Bank?
Why did Y Corp proceed against X Bank?
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What is the basis of X Bank's argument that it cannot be compelled to redeem the preferred shares?
What is the basis of X Bank's argument that it cannot be compelled to redeem the preferred shares?
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