Practice question
A corporation calls an agreement for its unissued stock an asset purchase, although the investor receives shares rather than corporate equipment or land. Explain the section 59 issue.
Legal references
- https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/86463 — RA 11232, sections 9, 35(f), and 59
Answer this question in flashcards to review your response and continue practicing.