Practice question
Under RCC Section 64, consenting to which issuance can trigger watered-stock liability?
- Shares issued for their full required lawful consideration.
- Shares issued below their par or issued value.
- Shares transferred between shareholders at a later market price.
- A dividend declared entirely in accordance with law.
- A fully paid share merely held during a market decline.
Legal references
- RA11232, RCC, Sections61–64: https://lawphil.net/statutes/repacts/ra2019/ra_11232_2019.html
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