Practice question
Under Section 59, does naming a contract a purchase prevent it from being a subscription for unissued shares?
- No
- Yes, labels conclusively override substance
- Only if the paper is blue
- Only the printer may classify it
- Every purchase label means already-issued stock
Legal references
- RA 11232: https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/86463; Sections 59-60.
Answer this question in flashcards to review your response and continue practicing.