Corporations 13.1: Foreign Corporations - Nature & License Requirements

[@angelobabia8159]

Thank you Atty. Javier. Your videos are very helpful.

[@josefinodigalrellienjr.3966]

Good afternoon po atty. Thank you po for this video.

[@KenshinHimura45]

Thank you Atty. very helpful

[@bochichaydevera2229]

Good afternoon atty Good lecture

[@ivanjaydublin1600]

Thank you for this video!

[@rosinante6415]

Hi Atty! You mentioned in 21:38 that contracts entered into by the foreign corporation after the revocation of its license to transact business in the PH will be considered invalid and unenforceable. But is it not that the purpose of obtaining the license is in order to acquire the legal capacity to sue, therefore be subjected to local jurisdiction? And consequently, the contracts entered into after the revocation of the license will not be affected by the revocation, but the said foreign corporation will not be able to seek redress from the local courts to enforce these contracts

[@AttyJavierLawVlog]

So what is your question?

[@rosinante6415]

@@AttyJavierLawVlog I'm sorry Atty. My question is can you expound on that part po because I've read in cases that the foreign corporation can transact business in the PH even without the license, but only that it cannot seek redress from the local courts for the enforcement of contracts entered into without the license

[@rosinante6415]

you mentioned po kasi that the contracts entered into after the revocation of the license will be considered invalid and unenforceable

[@AttyJavierLawVlog]

Ah I see. Upon reviewing, it seems I cited De Leon, who, unfortunately, did not provide basis for the statement. Upon further research, there exists SEC Opinion No. 10-07 series of 2010, which states that the revocation of the license will not affect the validity of contracts entered into prior to the revocation. This view has been adopted by Timoteo Aquino in his 2020 edition of his Corpo book (Rex Bookstore, p. 895). Thank you for bringing this up, will amend the episode accordingly.

[@rosinante6415]

​@@AttyJavierLawVlogThis was one of my professor's questions which got us confused because of contradicting commentaries. Thank you for confirming Atty!

[@jeorgerapista4744]

Thank you for this video.

[@MarvinGabillete]

Good day sir, May i ask what is the requirements of Foreign Corporation if they want to change the ownership. thank you

[@AttyJavierLawVlog]

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