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CORPORATION LAW

Part I General Provisions


A. Corporation, defined (Sec. 2)
Case:
a. Tayag v. Benguet Consolidated, 26 SCRA 242
b. Torres v. Court of Appeals, 278 SCRA 793
c. Philippine Stock Exchange, Inc. v. Court of Appeals, 281 SCRA 232
1. Art. XII Section 16, 1987 Philippine Constitution
Case:
a. Feliciano v. COA, GR No. 147402, January 14, 2004
2. Attributes of a Corporation
Case:
a. Excellent Quality Apparel, inc. v. CA, 281 SCRA 232
3. Similarities and Distinctions between Contract of Partnership and Corporations
4. Corporations Created by Special Laws or Charter
Cases:
a. National Coal Co. v. Collector of Internal Revenue, 46 Phil. 583
b. Marilao Water Consumers Association, Inc. v. IAC, 201 SCRA 437
c. Boy Scout of the Phils v. COA, 561 SCRA 146
B. Classification of corporations
1. Under the Corporation Code (Sec. 3)
2. Sole and Aggregate
3. Ecclesiastic and Lay
4. Eleemosynary and Civil

5. Domestic and Foreign


6. De jure and de facto corporations
6.1 Requisite of De Facto Corporation
6.2 Quo Warranto
Cases:
a. Sawadjaan v. Court of Appeals, G.R. No. 141735, June 8, 2005
7. Close and Open Corporation
8. Parent, Subsidiary, and Affiliated
9. Private and Public
10. Corporation by Prescription and Corporation by Estoppel
C. Nationality of corporations
1. Control test
2. Grandfather rule
Case:
a. Wilson Gamboa v. Sec. Margarito Teves, GR NO. 176579, June 28, 2011
b. Narra Nickel Mining and Development Corporation v. Redmond Consolidated Mines Corporation,
G.R. No. 195580, April 21, 2014
D. Corporations created by special laws (Sec. 4)
E. Corporators and incorporators, stockholders and members (Sec. 5)
F. Corporate juridical personality
1. Doctrine of separate juridical personality (or Doctrine of Corporate Entity

Case:
a. Cease v. CA, GR NO. 33172, October 18, 1979
2. Doctrine of piercing the corporate veil
a) Grounds for application of doctrine
b) Test in determining applicability
Cases:
a. CIR v. Norton and Harrison Company, G.R. No. 17618, August 31, 1964
b. McLeod v. NLRC, GR No. 146667, January 23, 2007
c. De Asis and Co. v. Court of Appeals, GR No. L-61549, May 27, 1985
d. Martinez v. Court of Appeals, GR NO. 131673, September 10, 2004
e. Solidbank Corporation v. Mindanao Ferroalloy Corporation,, GR No. 153535, July 28, 2005
f. Yamamoto v. Nishino Leather Industries, Inc., GR No. 150283, April 16, 2008
g. ASJ Corporation v. Sps. Evangelista, GR NO. 158086, February 14, 2008
3. Entitlement to constitutional rights
a) Due process

Case:
a. Albert v. University Publishing, Inc. G.R. No. 10118, June 16, 1965)
b) Equal protection of the law
c) Protection against unreasonable searches and seizure
4. Entitlement to Moral Damages
Case:

a. ABS-CBN v. Court of Appeals, GR NO. 128690, January 21, 1999


b. Coastal Pacific Trading, Inc. v. Sothern Rolling Mills, Co., Inc., July 28, 2006
5. Libel
Case:
a. Filipinas Broadcasting v. Ago Medical Center, GR No. 141994, January 17, 2005
6. Liability for torts
Cases:
a. PNB v. CA, GR NO. 27155, May 18, 1978
7. Doctrine of Corporate Negligence
Case:
a. Professional Services Inc., v. Court of Appeals, G.R. No. 126297, Feb. 2, 2010
8. Liability for crime
a. Ching v. Secretary of Justice, 481 SCRA 609
G. Classification of Shares (Sec. 6)
1. Par value or no par value
2. Voting or non-voting
3. Common or preferred
4. Promotion share
5. Share in escrow
6. Convertible stock
7. Founders share (Sec. 7)
8. Redeemable share (Sec. 8)
9. Treasury share (Sec. 9)

Part II Incorporation and Organization of Private Corporations


A. Number and qualifications of incorporators (Sec. 10)
1. Capital stock (distinguish from capital)
2. Authorized capital stock
3. Subscribed capital stock
4. Outstanding capital stock
5. Paid-up capital stock
6. Unissued capital stock
7. Legal capital (distinguish from capital stock)
8. Par value
9. Certificate of stock
Case:
a. Kukan International Corp. v. Reyes, G.R No. 182729, Sept. 29, 2010
B. Theory on Multiple Corporate Personalities
C. Minimum capital stock and subscription requirements
1. Incorporation and organization
a. Promoter
a.1) Liability of promoter
a.2b) Liability of corporation for promoters contracts
2. Subscription contract
Case:
a. Jaka Investments Corp. v. CIR, GR No. 147629, July 28, 2010
b. Ong Yong v. Tiu, GR No. 144476, April 8, 2003
3. Pre-incorporation subscription agreements
4. Consideration for stocks

5. Filipino ownership requirement based on specific constitutional and legal grounds


D. Corporate term (Sec. 11)
1. Doctrine of Relation (Relating Back Doctrine)
Case:
a. Alhambra Cigar & Cigarette Manufacturing Company, Inc. v. SEC, GR No. L-23606, July
29, 1968
b. PNB v. CA, GR No. 63201, May 27, 1992
E. Articles of incorporation (Sec. 14)
1. Contents
2. Non-amendable items
3. Doctrine of substantial compliance
F. Ground for rejection (Sec. 17)
G. Corporate name (Sec. 18)
H. Commencement of corporate existence (Sec. 19)
1. Genossenschaft Theory
2. Theory on concession
3. Theory of Corporate Enterprise or Economic Unit
I. De facto corporation (Sec. 20)
1. Differences between de jure, de facto and corporation by estoppels
Case:
a. Seventh Day Adventist Conference Church of Southern Philippines, Inc. v. Northeastern
Mindanao Mission of Seventh Day Adventist, Inc. GR No. 150416, July 21, 2006
J. Corporation by estoppel (Sec. 21)
K. Non-use of corporate charter (Sec. 22)