Practice question
Under RCC section 59, what kind of shares is the subject of a statutory subscription contract?
- Only already outstanding shares sold by an owner
- Unissued stock in an existing corporation or one still to be formed
- Only government bonds
- Only treasury bills
- Only land owned by a corporation
Legal references
- https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/86463 — RA 11232, sections 9, 35(f), and 59
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