A corporation cannot be held liable for personal indebtedness of a stockholder even if he is its President.
TRUE
FALSE
By the doctrine of piercing the veil of corporate entity or looking at the substance rather than the form is meant that the law will regard the corporation as a mere association of persons and not of a legal entity separate and distinct from the stockholders.
TRUE
FALSE
No par value shares may not be issued without being fully paid.
TRUE
FALSE
Redeemable shares may be purchased or taken up by the corporation upon the expiration of a fixed period, regardless of the existence of unrestricted
TRUE
FALSE
Treasury shares shall have no voting rights as long as they remain in the Treasury
TRUE
FALSE
Treasury shares are entitled to participate in the distribution of dividends.
TRUE
FALSE
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
