Partnership And Corporation Baysa Lupisan Answer Key 2018 -

It seems you're asking for a story that involves concepts, possibly tied to a Filipino context ("baysa lupisan" — which might be a name or a typo for "bansa" or "Bais City"?), and an "answer key 2018" (likely a reference to a test or exam answer key for a business law or organization subject).

Mang Baysa and his friend Aling Nena were farmers in Lupisan. For years, they dreamed of putting up a rice mill to serve their village. They had no big capital, only their savings and hard work. In January 2018, they agreed orally: “Let’s combine our money. You buy the husker, I’ll provide the shed. We share profits 50-50.”

“This is better,” Aling Nena said. “We only lose what we invested. My family’s future is safe.”

Why did they convert to a corporation? Answer: To limit liability, allow more investors, and ensure perpetual existence. partnership and corporation baysa lupisan answer key 2018

In a corporation, who manages the business? Answer: The Board of Directors, elected by shareholders.

Under the Corporation Code of the Philippines (Batas Pambansa Blg. 68, as of 2018), what document must be filed to create a corporation? Answer: Articles of Incorporation with the Securities and Exchange Commission (SEC).

What is the main disadvantage of a partnership shown in the story? Answer: A partner can bind the partnership without the other’s consent (mutual agency), and each partner is personally liable for all debts (unlimited liability). It seems you're asking for a story that

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.

One day, the corporation took a bank loan for a new dryer. The loan defaulted. The bank went after the corporation’s assets only — not Mang Baysa’s house, not Aling Nena’s piggery.

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. They had no big capital, only their savings and hard work

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

What type of business organization did Baysa and Nena first form? Answer: General partnership — formed by mere agreement, with mutual agency and unlimited liability.