Question

Scenario:

X Corporation is a thriving business engaged in the manufacturing and sale of electronic gadgets. They recently encountered some legal and operational issues and sought legal advice to address them. As a legal assistant, you were tasked to analyze the situation and provide recommendations.

Question:

1. What are the requirements for the creation of a juridical person under Article 44 of the Civil Code? Explain each requirement and provide an analysis of how these requirements apply to X Corporation.
2. Discuss the legal capacity of a juridical person. Can a juridical person exercise rights and enter into contracts on its own behalf? Explain the limitations, if any, on the legal capacity of X Corporation.
3. What are the grounds for the termination or dissolution of a juridical person under Article 47 of the Civil Code? Apply these grounds to the situation of X Corporation and explain the implications, if any, of the termination or dissolution on its operations and obligations.