Consideration

Name two types of consideration that are explicitly prohibited for the issuance of shares of stock.

Legal Answers /

Name two types of consideration that are explicitly prohibited for the issuance of shares of stock. Stocks shall not be issued for a consideration less than their par or issued price, a principle known as prohibiting “watered stock” (SEC. 61, Revised Corporation Code of the Philippines). The Code then explicitly prohibits the issuance of shares […]

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When consideration for stocks is other than cash, who determines the valuation, and whose approval is required?

Legal Answers /

When consideration for stocks is other than cash, who determines the valuation, and whose approval is required? Where the consideration for the issuance of stock is something other than actual cash, such as property, or consists of intangible property like patents or copyrights, the initial valuation thereof is determined by the stockholders or the board

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