Title 2 Corporation Law Quiz

It means the performance of conditions, acts, deeds, and writings by incorporators, and the official acts, certification or records, which give the corporation its existence.

• Incorporation

• Registration

• Creation

• Licensing

These are creatures of law, and can only come into existence in the manner prescribed by law.

• By Laws

• Articles of Incorporation

• Corporations

• Incorporations

Any corporation, singly or jointly with others but not more than __ in number, may organize a corporation for any lawful purpose.

• 10

• 13

• 15

• 17

Each incorporator of a stock corporation must own at least _ share of the capital stock.

• 1

• 2

• 3

• 4

Which of the following is not a basic qualification of an incorporator?

• natural or juridical entity

• not more than 10 incorporators

• if natural person, must be of legal age

• must own 1 share of the capital stock

Which among the following statements is false?

• Majority of the incorporators must be Filipino.

• Philippine residence is not required.

• Women of legal age can be an incorporator.

• Being an incorporator is an accomplished fact.

A corporation shall have ___ existence unless its articles of incorporation provides otherwise.

• 50 years

• 100 years

• 125 years

• perpetual

A private corporation organized under the RCCP commences its corporate existence and juridical personality from the date ___________.

• the SEC receives the application

• the SEC issues the acknowledgement receipt

• the SEC issues the certificate of incorporation

• the SEC registers the application

No extension of the corporate term for a specific period may be made earlier than _ years prior to the original expiry date unless there are justifiable reasons for an earlier extension.

• 2

• 3

• 4

• 5

It refers to the total shares of stock issued to subscribers or stockholders, whether or not fully or partially paid except treasury shares so long as there is a binding subscription agreement.

• Authorized Capital

• Subscribed Capital

• Paid Up Capital

• Outstanding Capital