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CORPORATION LAW
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FACTS:
Inc.'s
(San
Juan) entered
agreement
with
Motorich
Sales
into
an
Corporation
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the
Registry
of
Deeds
of
San
Juan
but
Motorich's
treasurer, Nenita
Lee
execute
formal
Transfer
of
Rights/Deed
of
impleaded
as
P100,000.00 Pesos
necessary
party
since
Transfer
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The document is a hand-written one,
Gruenberg's signature
being
solely
owned
by
the
Spouses
them.
utilized
as
illegality or inequity;
shield
to
commit
defeat public
fraud,
convenience;
ego
or
business
instrumentality,
conduit
agency
or
of
person
adjunct
of
or
an
another
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on behalf of Motorich
Sec. 96
However, Nenita Gruenberg should be ordered to
expense of another.
Plaintiffs-appellants,
Montelibano,
Alejandro
effected
Alfredo
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After trial, the court below rendered judgment upholding the stand
the resulting product should be divided in the ratio of 45% for the
mill and 55% for the planters. It was later proposed to execute
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cause losses or decrease the profits of the central, the court has
PALI.
PALI then wrote a letter to the SEC asking the latter to review
HELD: Yes. The SEC has both jurisdiction and authority to look
into the decision of PSE pursuant to the Revised Securities Act
and for the purpose of ensuring fair administration of the
exchanges in the PSE, the SEC has the authority to look into the
rulings issued by the PSE. The SEC is the entity with the primary
that the SEC may only reverse decisions issued by the PSE if
such are tainted with bad faith. In this case, there was no showing
that PSE acted with bad faith when it denied the application of
PALI. Based on the multiple adverse claims against the assets of
PALI, PSE deemed that granting PALIs application will only be
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HELD: No. The act of the Board Members is ultra vires. There
These acts by the Board Members are tainted with bad faith. A
corporations.
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The Supreme Court ruled that BENECO and the BENECO Board
BENECO.
The trial court issued an order dismissing the motion of ETI taking
into account the claims of Atty. Aguinaldo and Suk KyooKim. ETI
ETI filed a petition for certiorari and mandamus and a motion for
fees
and the
Rule 7 of the Rules of Court. KAL opposed ETIs claim saying that
Atty. Aguinaldo was indeed their legal counsel. KAL was given a
verification
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SCRA
130 (1989)
TAN VS SYCIP
G.R. No. 153468 August 17, 2006
the petitioners.
The courts may take judicial notice that business transactions
(Corporate Law)
FACTS:
corporate governance.
However, in the case, Atty. Aguinaldo and Suk Kyoo Kim alleged
that they participated in a teleconference along with the KALs
already died.
7 attended the meeting through their
respective proxies.
The meeting was convened and chaired by
Atty. Sabino Padilla Jr. over the objection of Atty.
Court.
The Supreme Court granted the petition of the ETI and reversed
the decision of the Court of Appeals.
quorum.
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corporation property;
4. Incurring, creating or increasing bonded
indebtedness;
5. Increase or decrease of capital stock;
6. Merger or consolidation of the
administrator or executor
nonstock corporation - personal and nontransferable unless the articles of incorporation or the
rights:
of incorporation or bylaws
By-Laws of GCHS: membership in the
corporations;
7. Investment of corporate funds in another
member
quorum = 6.
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RULING:
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