Article XII corporations.

Government-owned or controlled
Section 6
The use of property bears a social function, and all
economic agents shall contribute to the common good.
Individuals and private groups, including corporations,
cooperatives, and similar collective organizations, shall
have the right to own, establish, and operate economic
enterprises, subject to the duty of the State to promote
distributive justice and to intervene when the common
good so demands.
Halili v. CA
Doctrine. If land is invalidly transferred to an alien who
subsequently becomes a citizen or transfers it to a
citizen, the flaw in the original transaction is considered
cured and the title of the transferee is rendered valid.
Facts. Simeon de Guzman, an American citizen, died and
left real properties in the PH. Helen (widow) and David
(son), the private respondents, were both American
citizens and were his forced heirs. Helen executed a deed
of quitclaim assigning David all her rights over the land
which they inherited from Simeon. David sold land to
Cataniag which the petitioners assailed on the ground of
their right of legal redemption.
corporations may be created or established by special
charters in the interest of the common good and subject
to the test of economic viability.
Section 17
In times of national emergency, when the public interest
so requires, the State may, during the emergency and
under reasonable terms prescribed by it, temporarily
take over or direct the operation of any privately-owned
public utility or business affected with public interest.
Section 21
Foreign loans may only be incurred in accordance with
law and the regulation of the monetary authority.
Information on foreign loans obtained or guaranteed by
the Government shall be made available to the public.
Section 22
Acts which circumvent or negate any of the provisions of
this Article shall be considered inimical to the national
interest and subject to criminal and civil sanctions, as
may be provided by law.

Issue. Whether or not sale to Cataniag is valid (YES)

Held. Natural resources, with the exception of public

agricultural land, shall not be alienated, and with respect
to public agricultural lands, their alienation is limited to
Filipino citizens. Non-Filipinos cannot acquire or hold
title to private lands or to lands of the public domain,
except only by way of legal succession. Jurisprudence is
consistent that if land is invalidly transferred to an alien
who subsequently becomes a citizen or transfers it to a
citizen, the flaw in the original transaction is considered
cured and the title of the transferee is rendered valid.
Since the disputed land is now owned by Cataniag, a
Filipino citizen, the prior invalid transfer can no longer be
assailed. The objective of the constitutional provision --
to keep our land in Filipino hands -- has been served.

Knights of Rizal v. DMCI

Section 16
The Congress shall not, except by general law, provide
for the formation, organization, or regulation of private