Please answer all the question below. Thankyou somuch!

36. A subscription is generally an indivisible contract. Accordingly, the certificate of stock therefore may not be issued unless the subscription and other amounts due from the stockholder have been paid

True False

37. The right of a stockholder to acquire new issues of shares may be denied in the articles of incorporation.

True False

38. Shares of stock may be issued for service to be performed at some future time such as that to be rendered by a lawyer for the increase in the capital stock of a corporation.

True False

39. A trustee in a voting trust agreement acquires legal title to the shares entrusted to him.

True False

40. A corporation may be formed for more than one purpose.

True False

41. The entire consideration received for the issuance of no-par shares shall all be treated as capital and no part thereof shall be available for distribution as dividends.

True False

42. In the meetings of the board of directors, the vote required for the approval of an act is the majority of those present provided there is a quorum except in the election of the officers which requires a majority of the total number of the board of directors.

True False

43. A share of stock is an intangible personal property.

True False

44. The officers of a non-stock corporation may be elected directly by the members instead of by the board of trustees.

True False

45. The by-laws of a non-stock corporation may validly provide that meetings of members may be held outside the city or municipality where the principal office of the corporation is located provided that such other place must be within the Philippines.

True False

46. The board of directors may abandon a previously approved act to sell or dispose all or substantially all of corporate property without any further approval from the stockholders or members.

True False

47. If no payment is made by a subscriber on the due date of his subscription, his shares become delinquent on the day following.

True False

48. A subscription contract must be in writing to be enforceable if the amount or the subscription is P500.00 or more.

True False

49. A voting trust agreement enables a stockholder to retain control of the corporation of which he is a stockholder during the time that the voting trust agreement is in effect although he may have disposed of all his shares.

True False

50. A delinquent stock is deprived of all the rights of a stockholder including the right to dividends.

True False

51. As a rule, directors of a corporation may be removed with or without cause.

True False

52. The by-laws of a corporation may validly provide that one may be the President and Secretary or President and Treasurer at the same time.

True False

53. All subscribed shares are issued shares whether or not fully or partially paid as long as there is a binding subscription agreement.

True False