Академический Документы
Профессиональный Документы
Культура Документы
http://www.central.com.ph/sfsreader/session/00000164b6cb5f39ac9246f5003600fb002c009e/t/?o=False 1/16
7/20/2018 SUPREME COURT REPORTS ANNOTATED VOLUME 567
_______________
* THIRD DIVISION.
559
_______________
http://www.central.com.ph/sfsreader/session/00000164b6cb5f39ac9246f5003600fb002c009e/t/?o=False 2/16
7/20/2018 SUPREME COURT REPORTS ANNOTATED VOLUME 567
concurring.
560
The Facts
_______________
http://www.central.com.ph/sfsreader/session/00000164b6cb5f39ac9246f5003600fb002c009e/t/?o=False 3/16
7/20/2018 SUPREME COURT REPORTS ANNOTATED VOLUME 567
561
RTC Disposition
“x x x Thus, the petitioners David C. Lao and Jose C Lao do not
appear to have become registered stockholders of Pacific Foundry
Shop corporation, as they do not appear to have acquired shares
of stock of the corporation either as subscribers or by purchase
from a holder of outstanding shares or by purchase from the
corporation of additionally issued shares.
x x x x
Secondly, the claim or contention of the petitioners David C.
Lao and Jose C. Lao is wanting in merit because they have no
stock certificates in their names. A stock certificate, as we very
well know, is the evidence of ownership of corporate stock. If ever
the said peti-
_______________
http://www.central.com.ph/sfsreader/session/00000164b6cb5f39ac9246f5003600fb002c009e/t/?o=False 4/16
7/20/2018 SUPREME COURT REPORTS ANNOTATED VOLUME 567
562
CA Disposition
_______________
http://www.central.com.ph/sfsreader/session/00000164b6cb5f39ac9246f5003600fb002c009e/t/?o=False 5/16
7/20/2018 SUPREME COURT REPORTS ANNOTATED VOLUME 567
563
_______________
http://www.central.com.ph/sfsreader/session/00000164b6cb5f39ac9246f5003600fb002c009e/t/?o=False 6/16
7/20/2018 SUPREME COURT REPORTS ANNOTATED VOLUME 567
564
Amended Decision
_______________
565
http://www.central.com.ph/sfsreader/session/00000164b6cb5f39ac9246f5003600fb002c009e/t/?o=False 7/16
7/20/2018 SUPREME COURT REPORTS ANNOTATED VOLUME 567
566
http://www.central.com.ph/sfsreader/session/00000164b6cb5f39ac9246f5003600fb002c009e/t/?o=False 8/16
7/20/2018 SUPREME COURT REPORTS ANNOTATED VOLUME 567
_______________
567
http://www.central.com.ph/sfsreader/session/00000164b6cb5f39ac9246f5003600fb002c009e/t/?o=False 9/16
7/20/2018 SUPREME COURT REPORTS ANNOTATED VOLUME 567
Our Ruling
_______________
568
http://www.central.com.ph/sfsreader/session/00000164b6cb5f39ac9246f5003600fb002c009e/t/?o=False 10/16
7/20/2018 SUPREME COURT REPORTS ANNOTATED VOLUME 567
_______________
23 Id., at p. 41.
569
http://www.central.com.ph/sfsreader/session/00000164b6cb5f39ac9246f5003600fb002c009e/t/?o=False 11/16
7/20/2018 SUPREME COURT REPORTS ANNOTATED VOLUME 567
http://www.central.com.ph/sfsreader/session/00000164b6cb5f39ac9246f5003600fb002c009e/t/?o=False 12/16
7/20/2018 SUPREME COURT REPORTS ANNOTATED VOLUME 567
_______________
571
http://www.central.com.ph/sfsreader/session/00000164b6cb5f39ac9246f5003600fb002c009e/t/?o=False 13/16
7/20/2018 SUPREME COURT REPORTS ANNOTATED VOLUME 567
“We agree with the trial court that mere inclusion in the
General Information Sheets as stockholders and officers does not
make one a stockholder of a corporation, for this may have come
to pass by mistake, expediency or negligence. As professed by
respondent-appellee, this was done merely to comply with the
reportorial re-
_______________
25 Rollo, p. 48.
572
http://www.central.com.ph/sfsreader/session/00000164b6cb5f39ac9246f5003600fb002c009e/t/?o=False 14/16
7/20/2018 SUPREME COURT REPORTS ANNOTATED VOLUME 567
quirements with the SEC. This maybe against the law but
“practice, no matter how long continued, cannot give rise to any
vested right.”
If a transferee of shares of stock who failed to register such
transfer in the Stock and Transfer Book of the Corporation could
not exercise the rights granted unto him by law as stockholder,
with more reason that such rights be denied to a person who is
not a stockholder of a corporation. Petitioners-appellants never
secured such a standing as stockholders of PFSC and
consequently, their petition should be denied.”26
_______________
http://www.central.com.ph/sfsreader/session/00000164b6cb5f39ac9246f5003600fb002c009e/t/?o=False 15/16
7/20/2018 SUPREME COURT REPORTS ANNOTATED VOLUME 567
http://www.central.com.ph/sfsreader/session/00000164b6cb5f39ac9246f5003600fb002c009e/t/?o=False 16/16