Commercial Law, 2013 Bar — Question MC-III

MULTIPLE CHOICE

Dennis subscribed to 10,000 shares of XYZ Corporation with a par value of P100 per share. However, he paid only 25% of the subscription or P250,000.00. No call has been made on the unpaid subscription. How many shares is Dennis entitled to vote at the annual meeting of the stockholders of XYZ? (1%) A) 10,000 shares; B) 2,500 shares; C) 100 shares; D) 0 shares; E) None of the above.

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