Hi Tutor!

Will you help me with my assignment in Business Law and Regulations. Its about the topic of POWERS OF CORPORATION 3.

These are the questions: (the questions must answer in essay form)

1. "X" Corporation shortened its corporate life by amending its Articles of Incorporation. It has no debts but owns a prime property located in Quezon City. How would the said property be liquidated among the five

(5) stockholders of said corporation?

2. Themembers ofABCCorporation,anon-stockcorporation,contributedanamount foracorporateactivity. However,thetotal amountthatwascontributedwasmorethansufficientfortheactivity;hence,abalance ofP500,000wasleftwiththecorporation.Thereisaproposal tooffsettheunusedcontributionagainstthe balance ofthe receivables from the members. Is the proposal in accordance withlaw?

3. Two (2) corporations agreed to merge. They then executed an agreement specifying the surviving corporation and the absorbed corporation. Under the agreement ofmerger dated November 5, 20NY,the surviving corporation acquired all the rights, properties, and liabilities ofthe absorbed corporation. What would happen to the absorbed corporation? Must the absorbed corporation undertake dissolution and winding up procedures? Explain youranswer.

Thanks in advance!