About this document
Validity of Corporate Sale in Philippines by Venice Jamaila Dagcutan is a document available to read on EtoBox.
The document discusses a case involving Manuel Dulay Enterprises Inc, who obtained loans to construct a hotel project. The company president later sold the property without approval of all board members. The new buyer then mortgaged the property, and it was later sold in an extrajudicial foreclosure sale. The court ruled that the original sale was valid under corporation laws for close corporations, and failure of a director to promptly object in writing ratified the action.
- Author
- Venice Jamaila Dagcutan
- Language
- EN