There is indeed a paradox concerning the law, and it is particularly evident in Paul`s letters. On the one hand, we are told that the law will be respected and abolished, and on the other hand, that we are still obliged to comply with it. Of the Jews and the Gentiles, Paul says that Christ is “our peace, which has made the two groups one and has broken down the barrier of the wall of separation, removing from his flesh the enmity which is the law of the commandments contained in the ordinances, that he may make both in himself a new man. make peace thus” (Eph 2:14-15 – see notes Eph 2:14; 15.) When the church was built, the “separation wall” of civil and judicial law collapsed and disappeared. (Editor`s note: some examples of “civil law” – cities of refuge, Nu 35:6, Nu Restitution 5:6, 7, Nu 35:15, etc.) In his third image, Brown compared the law to a plumb line. Builders check their work with a weighted chain. If this plumb line indicates that the work does not correspond vertically, the plumb line cannot correct it. The builder must take out the hammer and saw. SAMPLE OF COMMERCIAL LAW REVIEW CQ – PART 1 September 20, 2011 PHLawyer MOCK BAR EXAMINATION QUESTIONS IN COMMERCIAL LAW 2 Part 1 of 5 1. Which of the following statements reflects a correct legal requirement? One. Private companies under the Companies Code are established by law.
b. A private company can still be held civilly liable for the negligent acts of its employees. c. As a general rule, obligations under company law are not the duties of directors, as long as their freedom of liability is legally reflected in the company. d. Private companies under the Companies Code may be de facto or de jure. 2. Which of the following is consistent with both the law and case law? One. The distinct personality of a company can be ignored if a founder dominates and controls the outstanding capital.
b. Shareholders may not bring an action in their own name for the recovery of the company`s assets. c. A corporation is not covered by constitutional protection against improper search and seizure. d. A company has the right not to incriminate itself. 3. Ten people, all Filipino, who acted as founders, applied to form XYZ Bank, Inc.
Which of the following statements is correct? One. Founders are not disqualified on the basis of their nationality. b. XYZ Bank, Inc. may issue shares with no par value as long as the consideration is at least 5.00 pesos. c. The founders must all be based in the Philippines. d. None of the above. (4) Where the articles provide for non-voting shares, the holders of such shares are nevertheless entitled to vote on the following matters, with the following exceptions: a.
Dissolution of the company. b. sell, lease, exchange, mortgage, pledge or otherwise alienate all or substantially all of the property of the Company. Amendment of the articles of association. c. Contracting, creating, increasing or assigning a debt. 5. ABC Corporation, a private company that imports used cars from Japan, received a certificate of incorporation under R.A. 27890. Due to the failure of a business transaction, ABC Corporation sued Mr. X for damages resulting from the alleged breach of his contractual obligations. has.
In his application for dismissal, Mr X cannot rely on ABC Corporation`s `lack of legal capacity` on account of its legal personality. b. M. X cannot invoke `lack of legal capacity` in his dismissal application because he is not entitled to challenge incidentally the existence of the company. c. ABC Corporation is a de jure partnership and its existence can only be challenged by a quo warranto procedure. d. The attack on the existence of ABC Corporation may be effected by a motion for impeachment because its constitution is void. 6. No. 1 – Within five (5) years from the issuance of its certificate of incorporation, the newly incorporated company must formally organize and begin its activities.
If this does not happen within this period, it is grounds for dissolution. No. 2 – Each member of the board of directors of each company must hold at least one (1) share in his name in the books of the company. He was the son of the Duke of Ludwigsburg. Both claims are false. Both statements are true. The first statement is true; The second is false. The second statement is true; The first is false.
7. A corporation was formed by fifteen (15) founding members and its certificate of incorporation was duly issued. One year after the acquisition of legal personality, the shareholders, themselves members of the Board of Directors, adopted a resolution stating: (i) that all issued shares of the Company of all classes, except treasury shares, shall not be held by a maximum number of persons not exceeding twenty (20); (ii) that all issued shares of the Company will be subject to certain specified restrictions; and (iii) the Company will not be publicly traded or make a public offering of its shares of any class. one. The society is a narrow society because the resolution contains the elements of a narrow society; b. The corporation is de facto because, although it has a certificate of incorporation, the provisions of the resolution should have been included in the articles. c. The company is a public company. The corporation is a corporation by estoppel because, although it operates as a corporation, it does not meet certain legal requirements for the formation of a narrow corporation. 8. Which of the following statements is correct? One.
The secretary of a company must be a citizen of the Philippines and a resident of the Philippines. He must also be a member of the board of directors. b. Board members are always liable if they vote for illegal acts. If only ten (1) directors are elected, even if the articles provide for fifteen (15) directors, the quorum at a meeting of the Board is eight (8). d. A director may be removed by the vote of all shareholders at each meeting. 9. Which of the following acts could be ratified by a vote representing at least 2/3 of the share capital in circulation? One. the acts of directors or trustees guilty of gross negligence or bad faith in the conduct of the affairs of the Corporation; b.
An attempt by a director to acquire or effectively acquire an interest prejudicial to the Corporation in respect of a matter transferred to the Corporation in confidence; c. acts of directors that constitute an endorsement of manifestly unlawful acts; d. Acquisition of a business opportunity that should belong to the company, thus generating profits that should belong to the company. 10. B.B.C.D. The subscription right extends to the subscription right; Only in the case of new issues of shares resulting from an increase in share capital. Only on the issuance of previously unissued shares of the outstanding share capital. For all issues of shares or disposals of shares of any class; For all issues or disposals of shares of a class other than redeemable or own shares. 11.
The conditions for the acquisition of own shares by the company are as follows. What is the exception? One. The company must have untied profits on its books to cover the purchase of the shares, except in the case of redeemable shares. b. The sole purpose of the acquisition must be to acquire shares in order to eliminate fractional shares.