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Philippine Partnership And Corporate Law
Summary
In Philippine law, if a wife engages in commerce without her husbands objection, conjugal property is liable. A partnership begins either from contract execution or a stipulated date. Stockholders can generally transfer shares without other stockholders consent unless restricted by by-laws. Receipt of profit shares is prima facie evidence of a partnership. Corporations can acquire property and incur obligations like natural persons. A de jure partnership meets all legal requirements. Alterations to partnership property require all partners consent.Full Conversation
A partnership begins:
Question * options:
From the moment of the execution of the contract
B. From the date stipulated
C. Either of the above
D. None of the above
In the context of Philippine law, particularly under the Civil Code, a partnership begins:
- From the moment of the execution of the contract (if no date is stipulated),
- From the date stipulated in the contract.
So, the correct answer would be:
C. Either of the above
Do you have any other legal questions or need further clarification?
- From the moment of the execution of the contract (if no date is stipulated),
- From the date stipulated in the contract.
So, the correct answer would be:
C. Either of the above
Do you have any other legal questions or need further clarification?
A stockholder cannot transfer his share without prior consent of the other stockholders.
Question * options:
True
False
In the context of Philippine corporate law, specifically the Corporation Code of the Philippines, a stockholder generally has the right to transfer their shares without needing prior consent from other stockholders, unless there is a specific provision in the corporate by-laws or shareholders' agreement that restricts this. Therefore, the answer is:
False
False
Which of the following is considered prima facie evidence of the existence of a partnership:
Question * options:
Where payment of interest on loan varies with the profits of the business.
B. The receipt by a person of a share of the profits
C. The sharing of gross returns of a business
D. Where the parties are established as co-owners of a property
Case Rating: *
In the context of Philippine partnership law, the receipt by a person of a share of the profits is considered prima facie evidence of the existence of a partnership. Therefore, the correct answer is:
B. The receipt by a person of a share of the profits.
Do you have any other legal questions or need further clarification?
In the context of Philippine partnership law, the receipt by a person of a share of the profits is considered prima facie evidence of the existence of a partnership. Therefore, the correct answer is:
B. The receipt by a person of a share of the profits.
Do you have any other legal questions or need further clarification?
A corporation may acquire and possess property of all kinds, as well as incur obligations and bring civil and criminal actions like a natural person.
Question * options:
True
False
Case Rating: *
Based on the general principles of corporate law in the Philippines, a corporation has the ability to acquire and possess property of all kinds, incur obligations, and bring civil and criminal actions, similar to a natural person. Therefore, the correct answer is:
True
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Based on the general principles of corporate law in the Philippines, a corporation has the ability to acquire and possess property of all kinds, incur obligations, and bring civil and criminal actions, similar to a natural person. Therefore, the correct answer is:
True
Would you like more detailed information or have another question related to this topic?
A corporation may acquire and possess property of all kinds, as well as incur obligations and bring civil and criminal actions like a natural person.
Question * options:
True
False
Case Rating: *
The statement is True. Under Philippine corporate law, corporations have the ability to acquire and possess property of all kinds, incur obligations, and bring civil and criminal actions like a natural person.
Would you like more detailed information or do you have another legal question related to this topic?
The statement is True. Under Philippine corporate law, corporations have the ability to acquire and possess property of all kinds, incur obligations, and bring civil and criminal actions like a natural person.
Would you like more detailed information or do you have another legal question related to this topic?
One which has complied with all the legal requirements for its establishment:
Question * options:
De facto partnership
B. De jure partnership
c) ordinary partnership
d) none of the above
Case Rating: *
For the question regarding a partnership that has complied with all legal requirements for its establishment, the correct answer would be:
B. De jure partnership
A de jure partnership is one that has met all legal requirements for its formation and is recognized as a valid partnership under the law.
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For the question regarding a partnership that has complied with all legal requirements for its establishment, the correct answer would be:
B. De jure partnership
A de jure partnership is one that has met all legal requirements for its formation and is recognized as a valid partnership under the law.
Would you like more detailed information or have another question related to this topic?
Partners may, without the consent of the others, can make any important alteration in the immovable property of the partnership even if it may be useful to the partnership.
Question * options:
True
False
Case Rating: *
False. Under Philippine law, particularly the Civil Code, any alteration in the immovable property of the partnership requires the consent of all partners, regardless of whether the alteration may be useful to the partnership.
Do you have another question or need further clarification on this topic?
False. Under Philippine law, particularly the Civil Code, any alteration in the immovable property of the partnership requires the consent of all partners, regardless of whether the alteration may be useful to the partnership.
Do you have another question or need further clarification on this topic?
A stockholder cannot transfer his share without prior consent of the other stockholders.
Question * options:
True
False
Case Rating: *
The correct answer to your question is False. Under the Corporation Code of the Philippines, a stockholder generally has the right to transfer their shares without needing prior consent from other stockholders, unless there is a specific provision in the corporate by-laws or shareholders' agreement that restricts this.
Do you have another legal question or need further clarification on this topic?
The correct answer to your question is False. Under the Corporation Code of the Philippines, a stockholder generally has the right to transfer their shares without needing prior consent from other stockholders, unless there is a specific provision in the corporate by-laws or shareholders' agreement that restricts this.
Do you have another legal question or need further clarification on this topic?
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