Corporation law bar questions and answers

What is a de facto company?
Another common definition of a de facto corporation is a company that has not completed the incorporation process but is doing business as if it were a legal corporation.
De facto corporations can also be companies that have been suspended or dissolved but have not ceased operations..
What is the doctrine of equality of shares jurisprudence?
Moreover, under the doctrine of equality of shares – all stocks issued by the corporation are presumed equal with the same privileges and liabilities, provided that the Articles of Incorporation is silent on such differences..
This doctrine espouses that the subscription is one, entire, indivisible and whole contract which cannot be divided into portions.

What is a de facto company?