19. The following cannot issue no par value shares, which is the exception?

a. banks

b. trust

c. insurance, and pre-need companies

d. public utilities

e. None of the above

20. Which of following shares is considered an exemption to the trust fund doctrine?

a. Preferred Shares

b. Redeemable Shares

c. Common Stock

d. Spurious Stock

21. Shares of stock which have been issued and fully paid for, but subsequently reacquired by the issuing corporation through purchase, redemption, donation, or some other lawful means

a. Common Shares

b. Preferred Shares

c. Redeemable Shares

d. Founders Shares

22. A special privilege conferred by governmental authority, and which does not belong to citizens of the country generally as a matter of common right.

a. Bill of Rights

b. Franchise

c. Corporate Privilege

d. Constitutional Freedom to Engage in Business

23. A body which actually exist, for all practical purposes, as a corporate body, but which because of failure to comply with some provisions of law, has no legal right to corporate existence as against the State.

a. De Facto Corporation

b. De Jure Corporation

c. Corporation by Estoppel

d. Incomplete Corporation

24. The action that can be filed by the Solicitor General in order to question the existence of a de facto corporation.

a. Certiorari

b. Mandamus

c. Petition for Correction

d. Quo Warranto