• Preferred shares are stocks that give the holder preference over the holder of common stocks.

• The most common forms of preferred shares may be classified into two: (1) preferred shares as to assets; and (2) preferred shares as to dividends.

• No share may be deprived of voting rights except those classified and issued as “preferred” or “redeemable” shares.

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• A limited partnership is one formed by two or more persons under the provisions of the following article, having as members one or more general partners and one or more limited partners.

• The limited partners as such shall not be bound by the obligations of the partnership.

• A limited partnership is not formed if there is no substantial compliance with the requirements under the law.

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• Employers who refuse or fail to pay the minimum wage prescribed by law shall be required to pay an amount equal to double the unpaid benefits owing to the employees.

• Employers who refuse of fail to pay the prescribed increases or adjustments in the wage rates shall be punished with a fine of not less than twenty-five thousand pesos (P25,000) nor more than One hundred thousand pesos (P100,000) or imprisonment of not less than two (2) years nor more than four (4) years, or both such fine and imprisonment at the discretion of the court.

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• Shares of stock designate units into which the proprietary interest in a corporation is divided.

• Common shares represent the residual ownership interest in the corporation.

• All stocks issued by the corporation are presumed equal with the same privileges and liabilities.

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