Section 35 Section 41 What may be exercised General and implied powers Investment only, not under implied power Investment of funds For primary purpose (an implied power under 35[k]) In another corporation,…
Author: Bryan Villarosa
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Treasury Shares
Treasury shares are those previously issued by the company and fully paid by subscribers but are subsequently reacquired by the issuing corporation through PDFRL (purchase, donation, forfeiture, redemption, or lawful means) Nature…
Stocks vs. Bonds
Stocks Bonds Nature A unit of ownership of the company A loan to the company Profits over time Intended to appreciate in value through time (not guaranteed) Pays fixed interest over time…
Bad Faith
It is factual and evidentiary. It does not mean bad judgment or negligence because it imports a dishonest purpose or some moral obliquity and conscious wrongdoing. It means breach of a known…
Gross Negligence
From the Court’s standpoint, the defendant’s casual manner, insouciance and nonchalance, nay, indifference, to the predicament of the distressed corporation glaringly exhibited a lackadaisical attitude from a top office of a corporation,…
Wesleyan University-Phils. (WUP) Vs. Maglaya Digest
Facts Guillermo Maglaya was both appointed and elected as Board Member of Wesleyan University Phils. in 2004. He was then elected as President in 2005 with a 5-year term (2005 to 2010)….
Matling Industrial vs. Coros
Facts Ricardo Coros was VP for Finance and Admin of Matling Corp and was dismissed by the latter. In Aug 2000, Coros filed a complaint for illegal suspension and illegal dismissal against…
Marc II Marketing vs. Alfredo Joson
Facts Lucila is the President of Marc Marketing. She engages the services of Alfredo where the latter received compensation. When Marc Marketing is being winded up, she designated Alfredo as her General…
Doctrine of Apparent Authority
The Doctrine of Apparent Authority is applied when a corporation knowingly permits one of its officers or agent to act within the scope of apparent authority. This doctrine is present when the…
Advance Paper Corp. vs. Arma Traders Corp. Digest
Advance Paper Corp. (creditor) vs. Arma Traders Corp. (debtor), G.R. 176897 Dec. 11, 2013 Facts Arma Traders is a distributor of school of supplies, and has been engaging with Advance Paper as…
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