0 Bewertungen0% fanden dieses Dokument nützlich (0 Abstimmungen)
3 Ansichten1 Seite
A corporation is an artificial being created by law that has rights of succession and powers authorized by law. No par value shares do not state their monetary value on the certificate. They must be considered fully paid and non-assessable, and shareholders are not liable to the corporation or creditors. The government can create private corporations through special charters if they are for the common good and economically viable.
A corporation is an artificial being created by law that has rights of succession and powers authorized by law. No par value shares do not state their monetary value on the certificate. They must be considered fully paid and non-assessable, and shareholders are not liable to the corporation or creditors. The government can create private corporations through special charters if they are for the common good and economically viable.
A corporation is an artificial being created by law that has rights of succession and powers authorized by law. No par value shares do not state their monetary value on the certificate. They must be considered fully paid and non-assessable, and shareholders are not liable to the corporation or creditors. The government can create private corporations through special charters if they are for the common good and economically viable.
1. Artificial Being 2. Created by operation of law 3. Has right of Succession 4. Has Powers, attributes and properties expressly authorized by law
No Par Value Share:
1. One without any stated value appearing on the face of the certificate of stock. IOW, it is a stock, which does not state how much money it represents.
Limitations of a NPVS: (DH-CT)
1. They shall be deemed fully paid and non-assessable 2. The holder of such shares shall not be liable to the corporation or its creditors 3. Shares without par vale may not be issued for a consideration less than the value of 5 pesos 4. The entire consideration received by the corporation for its no-par value shares shall be treated as capital and shall not be available for distribution as dividends.
Can the government make a private corporation?
1. Yes, but must comply with Article 12, Sec. 16 of the Constitution. - Created through a special charter - Must be for the interest of the common good - Subject to the test of economic viability
A Short View of the Laws Now Subsisting with Respect to the Powers of the East India Company
To Borrow Money under their Seal, and to Incur Debts in
the Course of their Trade, by the Purchase of Goods on
Credit, and by Freighting Ships or other Mercantile
Transactions
Scope As It Includes Both Appriable and Non-Approriable Objects. The Moon and The Stars Are Things But They Are Not Appropriable So They Are Not Property. E.G. Air