2013 (Mercantile Law ) Bar Exam Questions: Multiple Choice Question 11

[Answer/discuss the question below. Or check Mercantile Law Instructions; Mercantile Law Essay Questions: 1, 2, 3, 4, 5, 6, 7, 8, 9 and 10; Mercantile Multiple Choice Questions: 1, 2, 3, 4, 5, 6, 7, 8, 9, 1012, 13, 14 and 15; See also 2013 Bar Exam: Information, Discussions, Tips, Questions and Results]

XI.

Unknown to the other four proponents, Enrico (who had been given the task of attending to the Articles of Incorporation of the proposed corporation, Auto Mo, Ayos Ko) misappropriated the filing fees and never filed the Articles of Incorporation with the Securities and Exchange Commission (SEC). Instead, he prepared and presented to the proposed incorporators a falsified SEC certificate approving the Articles. Relying on the falsified SEC certificate, the latter began assuming and discharging corporate powers.

Auto Mo, Ayos Ko is a _____. (1%)

(A) de jure corporation

(B) de facto corporation

(C) corporation by estoppel

(D) general partnership

(E) None of the above.

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