A, B, C, D and E decided to form Alphabet Inc., a corporation dealing with the manufacture and sale of school supplies, with an authorized capital stock of P1M. The five equally subscribed to 25% of the authorized capital stock of P50,000.00 each. Even before they could pay the 25% of their total subscription, however, they entered into a contract with Manila College to deliver desks worth P2M. For lack of funds, however, they failed to fulfill the contract with Manila College. Determine the liability of A, B, C, D and E and Alphabet, Inc., vis--vis Manila College. B. What is a one-man corporation? Do such corporation enjoy the attributes of a corporation? What should be done to assure this? C. Distinguished Capital from Legal Capital. D. A, stockholder of X Corporation, assigns his shares of stock to B for a valuable consideration. The certificate of stock was thereupon delivered to B. A few days later, A died. The heirs of A, in A deed of Extra-judicial Partition, adjudicated his shares of stock to his son C. In the meantime, X Corporation declared cash dividend and sent corresponding notice to A's address. A, being the registered owner of the shares of stock in the books of the corporation. C received the notice and by virtue of the aforestated deed of partition claimed payment of the dividend. B likewise claimed payment asserting ownership of the shares by virtue of the assignment made by A. Who has the better right? Explain briefly.