Practice question
A validly existing corporation agrees to issue previously unissued shares to Lina. Their document is called an Investment Purchase Agreement. How is it characterized under section 59?
- A subscription despite the document’s title
- Necessarily a real-estate lease
- Never a subscription after incorporation
- Only a personal loan in every case
- A sale by an existing shareholder
Legal references
- https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/86463 — RA 11232, sections 9, 35(f), and 59
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