Title 4 Corporation Law Quiz

A corporation may exercise the following powers except ____.

• Express

• Implied

• Applied

• Incidental

The Corporate powers mentioned in Special Laws and Administrative regulations are examples of what kind of power?

• Express

• Implied

• Applied

• Incidental

The powers expressly provided for in the RCCP are deemed part of the Articles of Incorporation.

• True at all times

• False

• Only if they are enumerated in the Articles of Incorporation.

• Only if they are ratified.

This kind of power includes all powers that are reasonably necessary or proper for the execution of the powers expressly granted and are not expressly or impliedly excluded.

• Express

• Implied

• Applied

• Incidental

This kind of corporate power includes the right to succession.

• Express

• Implied

• Applied

• Incidental

The _____ exercises the general powers of the corporation.

• Officers

• Board

• President

• CEO

What is/are the requirement/s in order that a corporation can deal with real or personal property?

I. It must be reasonably and necessarily required by the transaction of the lawful business of the corporation.

II. It is subject to limitations prescribed by law and the Constitution.

• Both Statements

• None of the enumeration

• Statement I only

• Statement II only

A corporation can join a partnership.

• True at all times

• Only limited partnership

• False

• Only partnership that are not limited.

The RCCP now allows corporations to make donations so long as the following are complied with except _____.

• They must be reasonable.

• They must be for a valid purpose.

• They must be in line with the corporate's interest.

• They must support a political activity.

Extension and shortening of the term of the corporation are subject to the following requirements except ______.

• It must be approved by a 2/3 vote of the board.

• It must be ratified at a meeting by the stockholders representing at least 2/3 of the outstanding capital stock.

• Written notice of the proposed action and of the time and place of the meeting shall be addressed to each stockholder/member.

• A copy of the amended Articles of Incorporation shall be submitted to the SEC for its approval.