Salao Syllabus

8/18/2019 Salao Syllabus

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Part I – General Provisions

A. Corporation, defned (Sec. 2)

Case:

a. Tayag v. eng!et Consolidated, 2" SC#A 2$2

%. Torres v. Co!rt o& Appeals, 2' SC#A ' *

c. P+ilippine Stoc - c+ange, Inc. v. Co!rt o& Appeals, 2 / SC#A 2*2

/. Art. 0II Section /", / ' P+ilippine Constit!tion

Case:

a. 1eliciano v. C A, G# 3o. /$'$42, 5an!ary /$, 244$

2. Attri%!tes o& a Corporation

*. Si6ilarities and 7istinctions %et8een Contract o& Partners+ip and Corporations

$. Corporations Created %y Special 9a8s or C+arter

Cases:

a. 3ational Coal Co. v. Collector o& Internal #even!e, $" P+il. *

%. ;arilao


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2. Sole and Aggregate

*. -cclesiastic and 9ay

$. -lee6osynary and Civil

. 7o6estic and 1oreign

". 7e >!re and de &acto corporations

"./ #e?!isite o& 7e 1acto Corporation

".2 @!o aan v. Co!rt o& Appeals, G.#. 3o. /$/'* , 5!ne , 244

'. Close and pen Corporation

. Parent, S!%sidiary, and A liated

. Private and P!%lic

/4. Corporation %y Prescription and Corporation %y -stoppel

C. 3ationality o& corporations

/. Control test

2. Grand&at+er r!le

Case:


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a. !ridical personality

/. 7octrine o& separate >!ridical personality (or 7octrine o& Corporate -ntity

Case:

a. Cease v. CA, G# 3 . **/'2, cto%er / , / '

2. 7octrine o& piercing t+e corporate veil

a) Gro!nds &or application o& doctrine

%) Test in deter6ining applica%ility

Cases:

a. CI# v. 3orton and Barrison Co6pany, G.#. 3o. /'"/ , A!g!st */, / "$

%. ;c9eod v. 39#C, G# 3o. /$"""', 5an!ary 2*, 244'

c. 7e Asis and Co. v. Co!rt o& Appeals, G# 3o. 9 "/ $ , ;ay 2', /


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d. ;artineD v. Co!rt o& Appeals, G# 3 . /*/"'*, Septe6%er /4, 244$

e. Solid%an Corporation v. ;indanao 1erroalloy Corporation,, G# 3o. / * * , 5!ly2 , 244

&. Ea6a6oto v. 3is+ino 9eat+er Ind!stries, Inc., G# 3o. / 42 *, April /", 244

g. AS5 Corporation v. Sps. -vangelista, G# 3 . / 4 ", 1e%r!ary /$, 244

*. -ntitle6ent to constit!tional rig+ts

a) 7!e process

Case:

a. Al%ert v. =niversity P!%lis+ing, Inc. G.#. 3o. /4// , 5!ne /",/ " )

%) -?!al protection o& t+e la8

c) Protection against !nreasona%le searc+es and seiD!re

$. -ntitle6ent to ;oral 7a6ages

Case:

a. A S C 3 v. Co!rt o& Appeals, G# 3 . /2 " 4, 5an!ary 2/, /

%. Coastal Pacifc Trading, Inc. v. Sot+ern #olling ;ills, Co., Inc., 5!ly 2 , 244"

. 9i%el


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. Treas!ry s+are (Sec. )

Part II – Incorporation and rganiDation o& Private Corporations

A. 3!6%er and ?!alifcations o& incorporators (Sec. /4)

/. Capital stoc (disting!is+ &ro6 capital)

2. A!t+oriDed capital stoc*. S!%scri%ed capital stoc

$. !tstanding capital stoc

. Paid !p capital stoc

". =niss!ed capital stoc

'. 9egal capital (disting!is+ &ro6 capital stoc )

. Par val!e

. Certifcate o& stoc

Case:

a. H! an International Corp. v. #eyes, G.# 3o. / 2'2 , Sept. 2 , 24/4

. T+eory on ;!ltiple Corporate Personalities

C. ;ini6!6 capital stoc and s!%scription re?!ire6ents

/. Incorporation and organiDation


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*. 7octrine o& s!%stantial co6pliance

1. Gro!nd &or re>ection (Sec. /')

G. Corporate na6e (Sec. / )

B. Co66ence6ent o& corporate e istence (Sec. / )

/. Genossensc+a&t T+eory

2. T+eory on concession *. T+eory o& Corporate -nterprise or -cono6ic =nit

I. 7e &acto corporation (Sec. 24)

/. 7iJerences %et8een de >!re, de &acto and corporation %y estoppels

Case:

a. Sevent+ 7ay Adventist Con&erence C+!rc+ o& So!t+ern P+ilippines, Inc. v.3ort+eastern ;indanao ;ission o& Sevent+ 7ay Adventist, Inc. G# 3o. / 4$/", 5!ly2/, 244"

5. Corporation %y estoppel (Sec. 2/)

H. 3on !se o& corporate c+arter (Sec. 22)

Part III – oard o& 7irectorsKTr!steesK cers


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A. T+e oard o& 7irectors o& Tr!stees (Sec. 2*)

/. 1id!ciary d!ties

. -lection o& directors or tr!stees (Sec. 2$)

/. ;et+ods o& voting

a. Straig+t voting

%. C!6!lative voting

2. In a non stoc corporation

C. Corporate o cers, ?!or!6 (Sec. 2 )

Case:

a. ;atling Ind!strial and Co66ercial Coorp. F. Coros, G.#. 3o. / ' 42, cto%er /*,24/4

7. #eport o& election (Sec. 2")

-. 7is?!alifcation o& directors, tr!stees or o cers (Sec. 2')

1. #e6oval o& directors or tr!stees (Sec. 2 )

G. Facancies in t+e o ce o& director or tr!stee (Sec. 2 )

Case:

a. Falle Ferde Co!ntry Cl!%, Inc. v. A&rica, G.#. 3o. / / " , Septe6%er $, 244


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%. Tan v. Sycip, G.#. 3o. / *$" , A!g!st /', 244"

B. Co6pensation o& directors (Sec. *4)

I. 9ia%ility o& directors, tr!stees or o cers (Sec. */)

/. Corporate opport!nity doctrine

5. 7ealings o& directors, tr!stees or o cers 8it+ t+e corporation (Sec. *2)

H. Contracts %et8een corporations 8it+ interloc ing directors (Sec. **)

9. 7isloyalty o& a director (Sec. *$)

;. - ec!tive co66ittee (Sec. * )

. !siness 5!dg6ent #!le

Case:

Sa%er v. Co!rt o& Appeals, G.#. 3o. /*2 /, A!g!st */, 244$

Part IF – Po8ers o& Corporations

A. Classifcation o& po8ers

/. - press po8ers

2. I6plied po8ers


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*. Incidental or in+erent po8ers

Case:

a. Ce%! ionic !ilders S!pply, Inc. v. 7 P, G# 3o. / $*"", 3ove6%er /', 24/4

%. S+ipside Incorporated v. CA, G# 3o. /$**'', 1e%r!ary 24, 244/

. Corporate po8ers and capacity (Sec. *")

/. General po8ers, t+eory o& general capacity

2. Specifc po8ers, t+eory o& specifc capacity

a) Po8er to e tend or s+orten corporate ter6 (Sec. *') a./) Appraisal rig+t o& dissenting stoc +olders

%) Po8er to increase or decrease capital stoc or inc!r, create, increase %ondedinde%tedness (Sec. * )

%./) 9i6itation

%.2) 3ecessity

c) Po8er to deny pre e6ptive rig+ts (Sec. * )

c./) As to treas!ry s+ares

d) Po8er to sell or dispose o& corporate assets (Sec. $4)

d./) Appraisal rig+t o& dissenting stoc +older

e) Po8er to ac?!ire o8n s+ares (Sec. $/)

e./) Conditions &or t+e e ercise o& t+e po8er

e.2) Tr!st &!nd doctrine

&) Po8er to invest corporate &!nds in anot+er corporation or %!siness (Sec. $2)

g) Po8er to declare dividends (Sec. $*)

g./) Concept o& dividends (disting!is+ed &ro6 profts)

g.2) Classes o& dividends

g.*) =nrestricted retained earnings


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+) Po8er to enter into 6anage6ent contract (Sec. $$)

i) =ltra vires acts (Sec. $ )

(i) Applica%ility o& !ltra vires doctrine

(ii) Conse?!ences o& !ltra vires acts

Case:

a. Lo6er 7evelop6ent Co6pany, Inc. v. International - c+ange an , G# 3o./ 4" $, ;arc+ /*, 244

%. #ep!%lic v. Aco>e ;ining, Inc. G# 3o. 9 / 4"2, 1e%r!ary 2 , / "*

(iii) #atifcation

>) 7octrine o& apparent a!t+ority

Case:

a.


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A. Adoption o& %y la8s (Sec. $")

a) #e?!isites o& valid %y la8s

%) inding eJects

c) Contents (Sec. $')

d) A6end6ents (Sec. $ )

Case:

a. P;I Colleges v. 39#C, G# 3 . /2/$"", A!g!st / , / '

Part FI – ;eetings

A. Hinds (Sec. $ /)

/. 3ecessity o& 6eetings

. Place and ti6e o& 6eeting o& stoc +olders or 6e6%ers (Sec. /)

Case:

a. - pertravel To!rs, Inc. v. Co!rt o& Appeals, G.#. 3o. / 2* 2, ;ay 2", 244

C. @!or!6 (Sec. 2)

/. #e?!isites &or a valid 6eeting o& stoc +olders

2. Specifc n!6%er o& votes re?!ired %y la8


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7. #eg!lar and special 6eetings o& directors or tr!stees (Sec. *)

/. !siness >!dg6ent r!le

2. Solidary lia%ilities &or da6ages

-. oint o8ners+ip (Sec. ")

B. Foting rig+t &or treas!ry s+ares (Sec. ')

I. Pro ies (Sec. )

H. Foting tr!st (Sec. )

Case:

a. 9ee vs. Co!rt o& Appeals, G.#. 3o. /$$$/, 7ec. /', / "

Title FII – Stoc s and Stoc +olders

A. #ig+ts o& stoc +olders in general


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. 7erivative s!it

C. 9ia%ilities o& stoc +olders

7. S!%scription contract (Sec. "4)

-. Pre incorporation s!%scription (Sec. "/)

1. Certifcate o& stoc

/. 3at!re o& t+e certifcate2. =ncertifcated s+ares

*. 3egotia%ility

$. #e?!ire6ents &or valid trans&er o& stoc s

. Iss!ance

". 1!ll pay6ent

'. Pay6ent pro rata

. Stoc and trans&er %oo

. 9ost or destroyed certifcates

/4. Sit!s o& t+e s+ares o& stoc

G. Consideration &or stoc s (Sec. "2)

B. Certifcate o& stoc and trans&er o& s+ares (Sec. "*)

I. Iss!ance o& stoc certifcate (Sec. "$)


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5. 9ia%ility o& directors &or 8atered stoc s (Sec. " )

H. Interest on !npaid s!%scription (Sec. "")

9. Pay6ent o& %alance (Sec. "')

;. 7elin?!ency sale (Sec. " )

3.


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Part I0 – ;erger and Consolidation

A. ;erger and consolidation (Sec. '")

. Approval re?!ired (Sec. '')

C. Articles o& 6erger or consolidation (Sec. ' )

7. -Jectivity (Sec. ' )

-. -Jects (Sec. 4)

Part 0 – Appraisal #ig+t

A. Instances o& appraisal rig+t (Sec. /)

. Bo8 rig+t is e ercised (Sec. 2)

C. -Ject o& de6and and ter6ination o& rig+t (Sec. *)

7.


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1. 3otation on certifcatesM rig+ts o& trans&eree (Sec. ")

Part 0I – 3on Stoc Corporations

A. 7efnition (Sec. ')

. P!rposes (Sec. )

C. ;e6%ers rig+t to vote (Sec. )

7. 3on trans&era%ility o& 6e6%ers+ip (Sec. 4)

-. Ter6ination o& 6e6%ers+ip (Sec. /)

1. -lection and ter6 o& tr!stees (Sec. 2)

G. Place o& 6eetings (Sec. *)

Part 0II – 7istri%!tion o& Assets in 3on Stoc Corporations

A. #!les o& distri%!tion (Sec. $)

. Plan o& distri%!tion o& assets (Sec. )


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Part 0III – Close Corporations

A. 7efnition and applica%ility o& Title (Sec. ")

. Articles o& incorporation (Sec. ')

C. Falidity o& restrictions on trans&er o& s+ares (Sec. )

7. -Jects o& iss!ance or trans&er o& stoc in %reac+ o& ?!ali&ying conditions (Sec. )

-. Agree6ents %y stoc +olders (Sec. /44)

1.


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/. Incorporation (Sec. /4")

2. Pre re?!isites to incorporation (Sec. /4')

*. oard o& tr!stees (Sec. /4 )

. #-9IGI =S C #P #ATI 3S

/. Classes o& religio!s corporations (Sec. /4 )

2. Corporation sole (Sec. //4)

*. Articles o& incorporation (Sec. ///)

$. S!%6ission o& t+e articles o& incorporation (Sec. //2)

. Ac?!isition and alienation o& property (Sec. //*)

". 1illing o& vacancies (Sec. //$)

'. 7issol!tion (Sec. // )

. #eligio!s societies (Sec. //")

Part 0F – 7issol!tion

A. ;et+ods o& dissol!tion (Sec. //')

. Fol!ntary dissol!tion 8+ere no creditors are aJected (Sec. // )

C. Fol!ntary dissol!tion 8+ere creditors are aJected (Sec. // )

7. 7issol!tion %y s+ortening corporate ter6 (Sec. /24)


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-. Invol!ntary dissol!tion (Sec. /2/)

1. Corporate li?!idation (Sec. /22)

Part 0FI – 1oreign Corporations

A. 7efnition and rig+ts o& &oreign corporations (Sec. /2*)

. Application to e isting &oreign corporations (Sec. /2$)

C. Application &or a license (Sec. /2 )

7. Iss!ance o& a license (Sec. /2")

-.


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H. #evocation o& license (Sec. /*$)

9. Iss!ance o& certifcate o& revocation (Sec. /* )

;.

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Salao Syllabus