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CORPORATIONLAW
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INTRODUCTION
“Corporation Law” – whole body of law!
prin"iple and do"trine "o#erin$ pri#ate
"orporation in the Philippine Interpretation% liberal "ontr&"tion to pro'ote
and &plift de#elop'ent of trade relation and
whi"h will en"o&ra$e friendly "o''er"ial
inter"o&re a'on$ "orporation ()o'e In&ran"eCo* #er& +atern ,hippin$ Line! -./ ,CRA 0.01
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2RI+3 )I,TOR4 O3 P)ILIPPIN+
CORPORAT+ LAW
-1 ,o"iedade Anoni'a
.1 C&enta en Parti"ipa"ion/1 The Corporation Law (-5671
01 The Corporation Code (-5861
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CORPORATION! D+3IN+D
A "orporation i an artifi"ial bein$
"reated by operation of law! ha#in$ the
ri$ht of &""eion and the power!attrib&te and propertie e9prely
a&thori:ed by law or in"ident to it
e9iten"e*
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T)+ORI+, ON T)+ 3OR;ATION
O3 A CORPORATION-1 Theory of Con"eion
Taya$ #* 2en$&et Conolidated! In"*
Torre #* CA
.1 Theory of +nterpie +ntity
P,+ #* CA
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ATTRI2UT+, O3 A
CORPORATION
-1 Artifi"ial 2ein$
.1 Creat&re of the Law /1 Ri$ht of ,&""eion
01 Creat&re of +n&'erated Power!
Attrib&te and Propertie
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ARTICL+
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CORPORATION ,* OT)+R
2U,IN+,, +NTITI+,-1 ,ole Proprietorhip
.1 Partnerhip
/1 2&ine Tr&t01 Boint ent&re
1 Cooperati#e
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CORPORATION, CR+AT+D
24 A ,P+CIAL LAW OR C)ART+R
a* National Coal Co* #* Colle"tor of
Internal Re#en&e
b* ;arilao Water Con&'er Ao"iation!In"* #* IAC
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CLA,,I3ICATION, O3
CORPORATION,
-*Under the Corporation Code (,e"* /1
.* ,ole and A$$re$ate
/* +""leiati" and Lay
0* +lee'oynary
* Do'eti" and 3orei$n
7* De @&re and de fa"to "orporation
7*- Re&iite of De 3a"to Corporation
7*. E&o Warranto
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Cae%
a* ,awad@aan #* Co&rt of Appeal! >*R* No*
-0-=/! B&ne 8! .66
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CLA,,I3ICATION, O3
CORPORATION,
=* Cloe and Open Corporation
8* Parent! ,&bidiary! and Affiliated
5* Pri#ate and P&bli"
-6* Corporation by Pre"ription and
Corporation by +toppel
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CLA,,I3ICATION, O3
CORPORATION,
P&bli" Corporation – thoe "reated for
politi"al p&rpoe "onne"ted with the p&bli"
$ood in the ad'initration of the "i#il$o#ern'ent
;&ni"ipal "orporation – two?fold "hara"ter
a1P&bli" – poli"e power
b1Pri#ate – proprietary! "an &e F be &ed!
"an be liable for tort
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CLA,,I3ICATION, O3
CORPORATION,
P&bli" Corporation – not baed on the
ownerhip of the "ontrollin$ interet
;any >OCC – pri#ate "orporation
-1National Coal Co* # CIR
.1Cer#ante # A&ditor >eneral (NA3CO1
/1,hipide! In"* # CA (2CDA for e"ono'i" ando"ial de#elop'ent of Central L&:on1
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CLA,,I3ICATION, O3
CORPORATION,
Do'eti" "orporation – in"orporated &nder
the law of the Philippine
3orei$n "orporation – in"orporated &nder the
law of another "o&ntry
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CLA,,I3ICATION, O3
CORPORATION,
De @&re "orporation – f&ll and &btantial
"o'plian"e with the re&ire'ent of an
e9itin$ law
De fa"to "orporation –ha a bona fide atte'pt
to in"orporate
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CLA,,I3ICATION, O3
CORPORATION,
Corporation by etoppel– a "orporation
pre"l&ded fro' denyin$ it "orporate
e9iten"e
Corporation by pre"ription – Ro'an Catholi"
Ch&r"h (tho&and year1
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CLA,,I3ICATION, O3
CORPORATION,
Parent Co'pany – ha "ontrollin$ interetin one or 'ore "orporation
,&bidiary – "orporation in whi"h the parent
"orporation ha "ontrollin$ interet
Affiliate – a "orporation bein$ "ontrolled by aholdin$ "o'pany