Practice question
A corporation issues certificates of assignment transmitting participation interests in its commercial enterprise. It claims Section3.1(e) recognizes only voting trust certificates and omits assignment certificates. Which is correct?
- Certificates of assignment are also expressly listed in Section3.1(e)
- The paragraph lists voting trust certificates exclusively
- An assignment certificate can never evidence a commercial participation
- The word certificate automatically proves every legal document is a security
- Classification always turns only on paper color
Legal references
- RA8799 Securities Regulation Code: https://lawphil.net/statutes/repacts/ra2000/ra_8799_2000.html Section3.1(a),(b),(e),(g).
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