Commercial Law, 2012 Bar — Question VI

ESSAY

X is a Filipino immigrant residing in Sacramento, California. Y is a Filipino residing in Quezon City, Philippines. Z is a resident alien residing in Makati City. GGG Corporation is a domestic corporation — 40% owned by foreigners and 60% owned by Filipinos, with T as authorized representative. CCC Corporation is a foreign corporation registered with the Philippine Securities and Exchange Commission. KKK Corporation is a domestic corporation (100%) Filipino owned. S is a Filipino, 16 years of age, and the daughter of Y. a) Who can be incorporators? Who can be subscribers? (2%) b) What are the differences between an incorporator and a subscriber, if there are any? (2%) c) Who are qualified to become members of the board of directors of the corporation? (2%) d) Who are qualified to act as Treasurer of the company? (2%) e) Who can be appointed Corporate Secretary? (2%)

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