Practice question
A director consents to issuance of shares with a total par value of P 100,000 for only P 70,000 value received at issuance. The Section 64 conditions are established. What is the statutory shortfall?
- P 100,000 in addition to every corporate debt.
- P 70,000.
- P 170,000.
- Zero because some value was paid.
- P 30,000.
Legal references
- RA11232, RCC, Sections61–64: https://lawphil.net/statutes/repacts/ra2019/ra_11232_2019.html
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