Practice question
An entity is validly created by a special statute that itself supplies its legal existence. A supplier argues that no corporation can ever exist unless formed through the ordinary Code certificate route. Which answer is best?
- Sections2 and4 recognize legal creation and special-charter corporations; the ordinary private-incorporation route is not the only possible statutory basis
- Every special charter is legally meaningless
- Every corporation must be created only by a private contract
- A supplier may repeal a special law
- An artificial being can exist only if it is biologically human
Legal references
- RA11232 Revised Corporation Code: https://lawphil.net/statutes/repacts/ra2019/ra_11232_2019.html Sections2,4,18 and35(a).
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