Partnership And Corporation Baysa Lupisan Answer Key - 2018

“Why me?” Aling Nena cried. “I didn’t agree to that loan!”

Aling Nena realized: in a partnership, there is and mutual agency (each partner can bind the business and the other partners). Part Two: The Corporation Frustrated, they decided to change structure. They invited three other farmers — each contributing ₱20,000 — to form a corporation : Lupisan Farmers’ Rice Mill, Inc. They filed articles of incorporation with the SEC, issued shares of stock, elected directors, and appointed Mang Baysa as general manager. partnership and corporation baysa lupisan answer key 2018

They called it . For three months, it worked well. They shared losses when the machine broke. They shared decision-making. But one day, Mang Baysa borrowed money from a supplier in the name of the business without telling Aling Nena. The supplier demanded payment from both personally. “Why me

The supplier replied, “In a partnership, each partner is personally liable for business debts. Your personal savings, your car — they can be taken to pay.” They invited three other farmers — each contributing