Practice question
Does default equality mean every holder personally receives the same number of shares regardless of subscriptions or purchases?
- Yes, all holdings must always be identical
- Yes, the board must confiscate excess shares
- Yes, every person gets exactly one
- Yes, subscriptions are irrelevant
- No; equality of share rights is distinct from the number of shares a person lawfully owns
Legal references
- Revised Corporation Code, RA 11232, Sections 3 and 6: https://lawphil.net/statutes/repacts/ra2019/ra_11232_2019.html
Answer this question in flashcards to review your response and continue practicing.