[SEC-SICD * CASE NO. 08-99-6392. July 3, 2000.]
SPOUSES ENRIQUE M. ROJAS and CARMELA G. ROJAS, acting for Themselves and as stockholders/Incorporators of RMJ AGRO-INDUSTRIAL DEVELOPMENT CORPORATION, complainants, vs. GRACE O. MARTIREZ, for herself and Acting as President of RMJ AGRO-INDUSTRIAL DEVELOPMENT CORP., respondent.
Corporation Code; separate juridical personality of the corporation. — Pursuant to Sec. 2 of the Corporation Code, a corporation registered under the said code is considered a juridical person with a personality separate and distinct from that of the stockholders. This is an attribute most characteristic of a corporation. IDTHcA
Same; Section 23. — As a juridical person, a corporation can transact business only through its board of directors, officers and agents through a duly approved board resolution. A director can not act alone.
D E C I S I O N
This is a complaint filed by spouses Enrique M. Rojas and Carmela G Rojas against Grace O. Martirez, all stockholders of RMJ Agro-Industrial Corporation.
From the context of the complaint, the spouses allege that respondent, without any written authority accommodated herself and her family...
