CORPO
The capital stock, property, and other assets of a corporation are regarded as equity in trust for the payment of corporate creditors, who are preferred in the distribution of corporate assets.
What is the Trust Fund Doctrine?
The branch of private laws governing the rights, obligations, and relations of persons engaged in commerce or trade.
What is commercial law?
Any visible sign capable of distinguishing the goods or services of an enterprise and shall include a stamped or marked container of goods.
What is a trademark?
Questions of policy and management are left to the sound discretion and honest decision of the officers and directors of a corporation, and the courts are without authority to substitute their judgment for the judgment of the boards of directors.
What is the business judgment rule?
This is one who, having legal capacity to engage in commerce, habitually devotes themselves thereto.
What is a merchant?
This is any public service which owns, uses, or operates systems and assets, whether physical or virtual, so vital to the Republic of the Philippines that the incapacity or destruction of such systems or assets would have a detrimental impact on national security, including telecommunications and other such vital services as may be declared by the President of the Philippines.
What is critical infrastructure?
1) When the buyer expressly or impliedly assumes the liabilities of the seller;
2) If the sale amounts to a merger or consolidation;
3) When the sale is attended by fraud or bad faith;
4) When the buyer is a mere continuation of the personality of the seller.
What are the exceptions to the Nell Doctrine?
This is an arrangement whereby a bank, upon request of its client or on its own behalf, agrees to pay another against stipulated documents, provided the terms of the credit are complied with.
What is a letter of credit?
This is a statement or promise made by the insured, the untruth or non-fulfillment of which renders the policy voidable by the insurer.
What is a warranty?
When a corporation's assets are more than its liabilities, but the corporation can foresee that it will not be able to fulfill the obligations as they fall due.
What is technical insolvency?
This is the state where prospective systemic risks are mitigated, allowing financial consumers to pursue viable economic goals while avoiding disruptions to the smooth functioning of the financial system.
What is financial stability?
This is the making, using, offering for sale, selling, or importing the patented product or product obtained directly or indirectly from a patented process, or the unauthorized use of a patented process.
What is direct patent infringement?
Here, the Supreme Court ruled that stockholders can inspect the books and records of wholly owned subsidiaries. THERE IS NO DISTINCTION AS TO THE EXTENT. Hence, what the stockholder can inspect in the original parent corporation, he may likewise inspect in the wholly-owned subsidiary.
What is the case of Gokongwei v. SEC?
This is a transaction involving:
1) a total amount in excess of P500,000 within one banking day;
2) a single casino cash transaction involving an amount in excess of P5 million;
3) A single real estate cash transaction involving an amount in excess of P7.5 million.
What is a covered transaction?
This clause prevents an insurer from voiding or rescinding a life insurance policy due to concealment or misrepresentation after it has been in force for two years.
What is an incontestability clause?