Practice question
A pre-incorporation subscriber waits until after articles submission and then cites the earlier all-subscriber-consent language to claim the last-sentence bar does not exist. Which is correct?
- Every sentence may be ignored if inconvenient
- The express prohibition after submission must be applied; the earlier exception cannot simply erase it
- All articles are private advertisements
- Submission automatically means shares were paid in cash
- Only the subscriber’s preferred reading controls
Legal references
- RA 11232: https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/86463; Sections 59-60.
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