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Quiz on Obligations onPartners

Instructions: True or False. Read thequestions carefully. 10 seconds isallocated to answer each number.

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"1 AR

 

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1. A corporation is an

natural being createdby operation of law.

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2. A corporation is a

creature of unlimitedpowers.

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3. The life of a corporation

shall not exceed 25 years.

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4. A orporation is

created by mereagreement of the parties.

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5. A corporation may bedissol!ed at any time by

the will of any or all of thestoc"holders.

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#. The orporation

ode classi$escorporations into publicand pri!ate

corporations.

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%. A pri!ate corporation

is created for political orpublic purposes.

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&. The corporation is anational of the country

under whose laws it isorgani'ed or

incorporated.

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(. A corporation can be

held liable for a crimecommitted by its o)cers.

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1*. Treasury shares arethose issued to the

organi'ers andpromoters of a

corporation inconsideration of somesupposed right or

ro ert .

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$nd of quiz%nswers to follow

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%nswers

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