RFBT Cup - Difficult Round

1.       To qualify as a foreign corporation, the consideration is

• A.

  Ownership of the shares of stock

• B.

  Appointment of a resident agent

• C.

  Agreement of the parties

• D.

  Under what country’s law it was incorporated

2. In the stockholder’s meeting for the election of directors/trustees, the Revised Corporation Code now allows the stockholders or members to vote through remote communication or in absentia, in case (choose the exception):

• A.

  Even without authorization under the by-laws or from the BOD in case of corporations vested with public interest

• B.

  The majority of the BOD authorizes the same

• C.

  When so authorized in the by-laws or by a majority of the BOD

• D.

  The by-laws authorize the same

3.

Statement 1. The indivisibility of the object does not mean that the obligation is indivisible.

Statement 2. Divisibility of the object does not also mean that the obligation is also divisible.

• A.

  The first statement is correct while the second statement is wrong

• B.

  The first statement is wrong while the second statement is correct

• C.

  Both statements are false.

• D.

  Both statements are true.

Statement 1. The debtor on his own cannot excuse himself from complying with the principal obligation by fulfilling the penalty, unless such right is expressly granted to him.

 

Statement 2. On the part of the creditor, the creditor can choose between demanding the fulfillment of the obligation and demanding the satisfaction of the penalty.

• A.

  The first statement is correct while the second statement is wrong

• B.

  The first statement is wrong while the second statement is correct

• C.

  Both statements are false.

• D.

  Both statements are true.

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