Lex Rex Ph

RCCP Sec. 35 vs. Sec. 41 Corporate Investment

Section 35Section 41
What may be exercisedGeneral and implied powersInvestment only, not under implied power
Investment of fundsFor primary purpose (an implied power under 35[k])In another corporation, business or purpose
ApprovalBy a resolution of the Board+⅔ OCS or members

Other Content You May Be Interested In:

Culpa Aquiliana

Responsibility without a written contract, on the basis of a wrongful act. “Culpa” or culpability means responsibility arising from a wrongful act. Aquiliana – Latin

Read More »

Icon vs. NLIC Digest

Icon Development Corp vs. National Life Insurance Corp (NLIC)GR 220686 Facts Icon obtained several loans from NLIC. To secure its loans, Icon mortgaged several of its properties

Read More »

Rebus Sic Stantibus

The contract can only be valid if the conditions prevailing at the time of contracting continue to exist at the time of performance. If the

Read More »

“Yamashita Standard”

Also known as “Command Line Responsibility” or “Command Responsibility, is when the law of war imposes on an army commander a duty to take such

Read More »
en_USEnglish