S.A 2020/21 B.E COMMERCIAL LAW | Question #17

-

 SUGGESTED ANSWERS TO THE2020/21 BAR EXAMINATIONS IN COMMERCIAL LAW | Question No. 17 



#CommercialLaw #PreviousBarQuestions


Two years since it began to operate, a corporation has amassed assets valued at over PHP60,000,000.00. It also has 250 shareholders, each holding at least 150 shares. 

Under the Revised Corporation Code, is the corporation required to have an independent director? Explain briefly. 

Ads.

POLITICAL LAW
Bar Q&A (2023 Ed.) - Political Law - Carlo Cruz - Questions and Answers 
🛒 LZD: https://go.shopple.co/splbia 
🛒SHP: https://invl.io/clggpx7 

REMEDIAL LAW
Bar Q&A (2023 Ed.) - Remedial Law - Prof. Manuel Riguera - Central - Questions and Answers 
🛒LZD: https://go.shopple.co/splbid 
🛒 SHP: https://invl.io/clggpyr

LABOR LAW
Bar Q&A (2023 Ed.) - Labor Law - Benedict Guirey Kato - Questions and Answers - Central 
🛒LZD: https://go.shopple.co/splbif 
🛒SHP: https://invl.io/clggq2e 

ETHICS 
Bar Q&A (2023 Ed.) - Legal Ethics - Ed Vincent Albano - Questions and Answers 
🛒LZD: https://go.shopple.co/splbih 
🛒 SHP: https://invl.io/clggpur 

CIVIL LAW
Bar Q&A (2023 Ed.) - Civil Law - Vivian Paguirigan - Central - Questions and Answers 
🛒LZD: https://go.shopple.co/splbii 
🛒 SHP: https://invl.io/clggpyr

CRIMINAL LAW
Bar Q&A (2023 Ed.) - Criminal Law - Judge Ma. Rowena Alejandria - Central - Questions and Answers 
🛒LZD: https://go.shopple.co/splbil 
🛒SHP: https://invl.io/clggq1b

COMMERCIAL LAW
Bar Q&A (2023 Ed.) - Commercial Law - Dean Nilo Divina - Central - Questions and Answers 
🛒LZD: https://go.shopple.co/splbin 
🛒 SHP: https://invl.io/clggpwf

SUGGESTED ANSWER: 


Under the Revised Corporation Code (Section 23), corporations vested with public interest are.required to have independent directors in their Boards. Corporations vested with public interest include public companies as described under the Securities Regulation Code.

A public company is any corporation with a class of equity securities listed for trading on an Exchange OR with assets in excess of Fifty Million Pesos (Php 50,000,000.00) and has two hundred (200) or more stockholders, at least 200 of which hold at least one hundred (100) shares each (Section 23, RCC). Based on the facts provided, the corporation has assets of more than Php 50 million with 250 shareholders, each one holding more than 100 shares each. Thus, being a public company, the corporation is required to have independent directors.



Code: S.A 2020/21 B.E COMMERCIAL  LAW | Question #17



MORE: https://bit.ly/3CMFOeo 

Visit 🔎 #Bio (PREVIOUS BAR QUESTIONS)


• Website

🔎 attyphiljuris.blogspot.com 


• Facebook Pages 

@Philippine Jurisprudence Official

@Lodpost Writers BUDDY

@my MOODY 


•Telegram

https://t.me/phiLJuris 


• Discord

https://discord.gg/S3MC5awfBE

Comments

Post a Comment

Popular posts from this blog

SUGGESTED ANSWERS TO 2023 BAR EXAMS ON CRIMINAL LAW

-
Image
  SUGGESTED ANSWERS TO 2023 BAR EXAMS ON CRIMINAL LAW BY JUDGE Marlo Campanilla 1. Court has jurisdiction - Extra-territoriality and generality principle ( 8-Hrs video Speed Lecture and regular review lecture )  2. Joey can invoke mistake of fact in relation of death under exceptional circumstance (last-minute video lecture, 8-hrs speed video lecture, pre-week video lecture, regular lecture) 3. Kidnapping with homicide , Ramos and Mercado principle (last-minute video lecture, pre-week video lecture, 8-hrs video speed lecture, regular lecture) 4. Aggravating circumstance of committing a crime in the present of the President; nighttime is not aggravating circumstance (Basic principle) 5. Ado is liable (Basic principle)   6. Pardon will not remit accessory penalty (8-hrs speed video lecture, pre-week video lecture, regular lecture) 7. The duration of reclusion perpetua is 40 years ( Miguel vs. Director of Bureau Prisons, UDK-15368, September 15, 2021 ) 8. Treason is...
Read more

Q. No. 2 | Political Law | Suggested Answer | Bar 2023

-
Image
  Q. No. 2 | Political Law | Suggested Answer | Bar 2023 Q. No. 2 | Political Law “Sulu Second District Representative Alfonso died during the second year of his term. House Speaker Rodil then designated Sulu First District Representative Midas as the legislative caretaker for the remaining period of the term of Alfonso. Upon the prodding of majority of the constituents of the Sulu Second District who are invoking their right to representation, the members of the party of Alfonso filed a petition before the Supreme Court for the issuance of a writ of mandamus to compel Rodil to call for a special election in their district.   Will the petition prosper? Explain[.]” Suggested Answer: Republic Act No. 6645, December 28, 1987 , AN ACT PRESCRIBING THE MANNER OF FILING A VACANCY IN THE CONGRESS OF THE PHILIPPINES Section 1.  In case a vacancy arises in the Senate at least eighteen (18) months or in the House of Representatives at least (1) year before the next regular election ...
Read more