Art 35 - to as far as i can

Question 1

what are the general powers of a corporation?

Answer 1

Outlined in sec. 35

1. To sue & be sued
2. To have perpetual existence [unless]
3. To adopt & use a corporate seal
4. To amend its articles of incorporation
5. To adopt bylaws…[and] amend or repeal the same
   6.
   7.
   8.
   9.
   10.
   11.

Question 2

can a corporation enter into partnership?

LB

Answer 2

Yes, under the revised corporation code, corporation can enter into partnerships and not just joint ventures

Sec. 35 (h)

Question 3

distinguish partnership from joint venture insofar as corporations are concerned?

Answer 3

partnership will result to a partnership

joint venture will result to a new corporation

Question 4

What are the specific powers of a corporation?

Answer 4

1. Power to Extend or Shorten Corporate Term (36)
2. Power to Increase or Decrease Capital Stock
3. Power to Deny Pre-Emptive Right
4. Sale or Other Disposition of Assets
5. Power to Acquire Own Shares
6. Power to Invest Corporate Funds in Other Corporations/Businesses
7. Power to Declare Dividends
8. Power to Enter into Management Contract
9. Ultra Vires Acts (44)

Question 5

When a corp inc/dec its authorized capital stock, what approval is required?

Answer 5

1. approved by majority vote of the BoD
2. 2/3 of the OCS
3. approval of SEC
4. PCC (if applicable)

philippine competition commission

Question 6

How can a corporation incur, create, or inc bonded-debtedness