Practice question
What statutory phrase describes transfer and vesting of constituent rights and property in the effective survivor or consolidated entity?
- Only a possible future donation
- Only a promoter’s hope
- Only a private advertisement
- Only a creditor’s personal choice
- Deemed transferred and vested without further act or deed
Legal references
- Revised Corporation Code, RA 11232, Section 79: https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/86463
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