Business Judgment Rule
The will of the majority of the Board members control corporate affairs and contracts intra vires and the courts will not interfere unless such contracts are unconscionable and oppressive amounting to destruction
The will of the majority of the Board members control corporate affairs and contracts intra vires and the courts will not interfere unless such contracts are unconscionable and oppressive amounting to destruction
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,
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).
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
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
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
If a corporation knowingly permits one of its officers or agent to act within the scope of an apparent authority, it holds him out to the public as possessing the power to do
Facts Manila International Airport Authority (MIAA) received Final Notices of Real Property Tax Delinquency from Pasay City for 10 taxable years or from 1992 to 2001. These properties are located inside NAIA
Facts DBP and PNB foreclosed NMIC’s properties which made the former as the majority stockholder of the latter. NMIC then engaged the services of Hercon/HRCC. NMIC failed to pay Hercon/HRCC. After default
Facts In 1965, Palay Inc thru its President, executed a Contract to Sell in favor of private respondent Nazario Dumpit, a parcel of land in Antipolo Rizal. Terms include DP and installments.