Practice question
Does calling an agreement to acquire unissued stock a purchase prevent it from being a subscription under section 59?
- Yes, titles always control
- Yes, if printed in capital letters
- No, section 59 applies notwithstanding the label
- Yes, if the subscriber is a corporation
- Yes, if the corporation already exists
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.