Until and unless the transfer of the shares of stock is duly recorded in the stock and transfer book of the corporation, it is not binding upon the corporation.
JoinedAugust 6, 2020
Articles49
Both the Securities Regulation Code and the Revised Corporation Code require the election of independent directors in specified instances...
The collection case instituted by creditor against the principal debtor and its surety may proceed despite a stay order...
The separate personality of a corporation is merely a fiction of law created for convenience which may be pierced or disregarded to promote the ends of justice...
Generally where one corporation sells or otherwise transfers all of its assets to another corporation, the latter is not liable for the debts and liabilities of the transferor...
Its marking of the box "To be refunded" in its 2005 annual ITR constituted its exercise of the option, and from then onwards Rhombus became precluded from carrying-over the excess creditable withholding tax...
Continually learning and imparting the Ateneo brand of education while called to teach and serve, I am honored and privileged to be an Atenean...
All Covered Institutions are required to implement a 30-day grace period for all loans with principal and/or interest falling due within the Enhanced Community Quarantine Period (ECQ Period) without incurring interest on interest, penalties, fees and other charges...
The Supreme Court laid down in Saluday vs. People the guidelines in the conduct of bus searches. Whenever compliant with these guidelines, a routine inspection at the terminal or of the vehicle itself while in transit constitutes a reasonable search...
if the right is to be denied, the burden of proof is upon the corporation to show that the purpose of the shareholder is improper, by way of defense...
An individual stockholder may be permitted to institute a derivative suit in behalf of the corporation in order to protect or vindicate corporate rights whenever the officials of the corporation refuse to sue...
As a measure of simple justice and ordinary fairness to them, therefore, reckoning just compensation on the value at the time the owners commenced these inverse condemnation proceedings is entirely warranted...
The Supreme Court laid down the exceptions to the Nell Doctrine, in which instances, the transferee shall assume the liabilities of the transferor corporation...
The Nell Doctrine states the general rule that the transfer of all the assets of a corporation to another shall not render the latter liable to the liabilities of the transferor...
Applicability of Irrevocability Rule Under Section 76 of the Tax Code to Refund or Tax Credit Option
UPSI-MI constructively chose the option of carry-over, for which reason, the irrevocability rule forbade it to revert to its initial choice...
The quarterly tax payments are advance payments of the tax due on the entire taxable income of that particular taxable year. Thus, these quarterly tax payments are deducted from the total tax due for the entire year as indicated in the final adjustment return...
An LN is entirely different and serves a different purpose than an LOA. After an LN has served its purpose, the revenue officer should have properly secured an LOA before proceeding...
Success is won by those who do not give up but keep on trying. Failure merely delays success. Failure does not prevent success...