Scribd
Upload
40 views3 pages

Corpo BUSLAW2 3&4

The document discusses various concepts relating to corporations including: - The rules that govern a corporation internally include the articles of incorporation, bylaws, stock certificates, and policies and procedures. - An executive committee can approve contracts in the ordinary course of business. - A proxy is a formal authority given by a stockholder to another person to exercise the voting rights of the former. - The trust fund doctrine holds that the subscribed capital stock is a trust fund for creditors to satisfy debts.

Uploaded by

ishinoya keishi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
40 views3 pages

Corpo BUSLAW2 3&4

The document discusses various concepts relating to corporations including: - The rules that govern a corporation internally include the articles of incorporation, bylaws, stock certificates, and policies and procedures. - An executive committee can approve contracts in the ordinary course of business. - A proxy is a formal authority given by a stockholder to another person to exercise the voting rights of the former. - The trust fund doctrine holds that the subscribed capital stock is a trust fund for creditors to satisfy debts.

Uploaded by

ishinoya keishi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 3

1.

The rules of action adopted by the corporation for its internal regulations and for the
government of its officers and stockholders or members

 Articles of Incorporation
 Bylaws
 Stock Certificate
 Policies and Procedures

2. The president of a corporation may at the same time be –

 Treasurer
 Corporate Secretary
 Chairman of the Board of Directors
 President cannot held other position in the corporation

3. The following statements are presented to you:

 All ultra vires acts are illegal acts.


 All illegal acts are ultra vires acts.
Both statements are true
Both statements are false
I is true; II is false
I is false; II is true

4. One of the following acts may be performed by the executive committee of a corporation.
Which is it?

 Declaration of stock dividends


 Filing of vacancies in the board of directors
 Amendment or repeal of the by-laws
 Approval of contracts in the ordinary course of business

5. What is a Proxy?

 The formal authority given by the holder of stock, who has a right to vote it, to another
person to exercise the voting rights of the former.
 An agreement wherein a stockholder transfers his share to another person for purposes
of vesting voting or other rights to the latter.
 An agent authorized to represent a person
 All of the above.

6. What may be the composition of the executive committee of a corporation?

 Directors
 Stockholders who are neither officers nor directors
 Officers who are neither stockholders nor directors
 A combination of director, stockholder, and officer

7. The Articles of Incorporation differ from the by-laws in that the AOI is

 The rules of action adopted by a corporation for its internal government


 Adopted before or after the incorporation
 A condition precedent in the acquisition by a corporation of a juridical personality
 Approved by the stockholders if adopted after incorporation

8. The following are classifications of corporate powers, except –

 Implied
 Express
 Incidental
 Natural

9. The subscribed capital stock of the corporation is a trust fund for the payment of debts of the
corporation which the creditors have the right to look up to satisfy their credits, and which the
corporation may not dissipate

 Corporate Fund Doctrine


 Trust Fund Doctrine
 Doctrine of Corporate Opportunity
 Doctrine of Apparent Authority

10. The formal authority given by a stockholder to another person to exercise the voting rights
of the former.
 Special power of authority
 Voting Trust Agreement
 Proxy
 Voting Trust Certificate

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy