Corporations Question and answers rated A+ 2024/2025
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Course
BLR
Institution
BLR
Corporations Question and answers rated A+ 2024/2025 Corporations
Doctrine of separate personality - correct answer It refers to the attribute of a corporation which means that a corporation has a personality separate and distinct from the stockholders and affiliated companies.
Doctrine o...
Corporations
Doctrine of separate personality - correct answer ✔It refers to the attribute of
a corporation which means that a corporation has a personality separate and
distinct from the stockholders and affiliated companies.
Doctrine of Piercing the veil of corporate fiction - correct answer ✔It is an
exception to the doctrine of separate personality
Fraud cases - correct answer ✔It refers to an instance when the corporate
veil may be pierced when the corporate entity is used to justify a wrong,
protect a fraud or defend a crime
Alter ego cases - correct answer ✔It refers to an instance when the
corporate veil may be pierced when the corporate entity is a mere
instrumentality or alter ego of the stockholders or owners
Defeat public convenience cases - correct answer ✔It refers to an instance
when the corporate veil may be pierced when the corporate entity is used as a
vehicle for the evasion of an existing obligation, tax evasion or to justify a
wrong or to defend a crime
Equity cases - correct answer ✔It refers to an instance when the corporate
veil may be pierced in order to promote social justice
Writ of Certiorari - correct answer ✔A decision by the Supreme Court to hear
an appeal from a lower court
,Limited liability rule - correct answer ✔It means that the stockholders are
liable only up to the extent of their capital contribution when it comes to
corporation's liabilities
Trust fund doctrine - correct answer ✔It means that assets of the
corporations are considered trust fund reserved for payment of liabilities to
creditors of the corporation.
Moral damages - correct answer ✔It refers to the type of damage to which a
corporation is not normally entitled to
Libel - correct answer ✔It is defined as a public and malicious imputation of a
crime, or of a vice or defect, real or imaginary, or any act, omission, condition,
status or circumstance tending to cause dishonor, discredit or contempt of a
natural or juridical person, or to blacken the memory of one who is dead
Slander - correct answer ✔Refers to spoken defamation
Libel - correct answer ✔Refers to written defamation
Right against self-incrimination - correct answer ✔It refers to Section 17 of
the Constitution which states that "No person shall be compelled to be a
witness against himself"
Rights in custodial investigation or Miranda rights or the right to remain silent -
correct answer ✔It refers to Section 12 of the Constitution which states that
"Any person under investigation for the commission of an offense shall have
the right to be informed of his right to remain silent and to have competent and
independent counsel preferably of his own choice"
, Batas Pambansa Bilang 68 or the Corporation Code of the Philippines -
correct answer ✔The law which creates private corporations
Public corporations - correct answer ✔These corporations may only be
created by special law and are created for public purpose
Concession theory - correct answer ✔This theory means that a corporation
owes its existence to the law and the state and the extent of its existence,
powers and liberties is fixed by its charter.
Right of succession - correct answer ✔It best describes the strong juridical
personality of the corporation
50 years - correct answer ✔Maximum term of a corporation
Ecclesiastical or religious corporations - correct answer ✔These corporations
can exist in perpetuity and would not need a renewal
Five years prior to expiration of term - correct answer ✔Earliest period within
which the corporation may apply for the renewal of its term
Ipso facto - correct answer ✔A Latin term which means "by that very fact"
Express powers - correct answer ✔These powers refer to the powers
expressly provided, enumerated and granted by the Corporation Code or
special law to a corporation
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