Practice question
A lawful transfer of 40 out of the seller’s 100 shares is presented for recording. The clerk enters 100 solely because that was the old certificate’s total, despite documents establishing only 40 transferred. Which is best?
- The record must accurately show the actual number transferred rather than mechanically copy the old total
- Every partial transfer necessarily conveys the full certificate quantity
- The clerk may choose any number
- Quantity does not appear in Section 62
- The seller’s remaining shares automatically vanish
Legal references
- RA 11232: https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/86463; Section 62.
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