Can I read Philippine Trust Co. v. Rivera Ruling on EtoBox?

Philippine Trust Co. v. Rivera Ruling by jay ugay is a document available to read on EtoBox.

What is Philippine Trust Co. v. Rivera Ruling about?

The document discusses a case where a corporation attempted to reduce stock subscription payments after becoming insolvent. The court ruled that the corporation did not have the power to release subscribers from their obligation to pay for shares without valuable consideration. A reduction of capital stock can only occur in the manner and conditions prescribed by statute, charter, or articles of incorporation, which was not followed in this case.

Author

jay ugay

Language

EN