Reference no: EM133265165

Assignment:

Part 1

1.) What are the essential characteristics of cooperatives? Discuss each characteristic in five to ten sentences.

2.) What is the status of the dealings of directors and officers with the cooperative? Why is this so?

Part 2

Facts: Krisha, Karren, and Kristine formed Partnership KKK intended to engage in a manufacturing business where Krisha contributed a piece of land with a building in it, Karren contributed 5,000,00, and Kristine, his industry.

Questions to be resolved:

1.) In what form should the partnership's agreement be constituted? What are the important declarations in this agreement?

2.) In case any of the partners want to venture into another business endeavor, can he do so? What are allowed? What are the restrictions?

3.) Assuming D, a third party wants to join the partnership, can he validly join? What are the conditions? What are the restrictions? Why are these restrictions and conditions imposed?

4.) Assuming D was admitted only by B to help build his promised capitalization, what are the rights of D?

5.) Assuming the parties realized continued losses, can C be charged of the Loss? State your reason.

6.) If C was designated as the managing partner, can he be removed? Discuss your answer.

7.) Assuming all of the partnership's assets were already exhausted, but there is still remaining liability, can the third person ran after C? State your reason

8.) Discuss the concept of Solidarity in partnership and cite 5 indicators of this concept.

Part 3

Facts: Wilbert was incorporated as a stock corporation in August 20, 2018

Questions to be resolved:

1.) For how long has Wilbert Corporation may existed? Discuss.

2.) If eventually, the corporation will open an additional subscription, may the existing stockholders be denied their pre-emptive rights? State your reason.

3.) In what instance may say corporation be compelled by law to issue dividends? What is the tax effect if the said corporation will not issue dividends in spite of such a requirement?

4.) Discuss how voting trust operates.

5.) Discuss the rationale of the voting trust Doctrine.