About this document
81 Garcia vs. Suarez. 67 Phil. 441, April 21, 1939 by Danica Godornes is a document available to read on EtoBox.
The document discusses a case regarding a shareholder who failed to fully pay their stock subscription. It analyzes whether the action to recover the unpaid balance was prescribed and also whether the shareholder was released from their obligation. The court found that the action was not prescribed as the board never declared the subscription due, and that the shareholder was not validly released as the president lacked authority to do so without stockholder consent.
- Author
- Danica Godornes
- Language
- EN