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.

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

“Why me?” Aling Nena cried. “I didn’t agree to that loan!” partnership and corporation baysa lupisan answer key 2018

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.

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

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.”

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). They shared decision-making

Why did they convert to a corporation? Answer: To limit liability, allow more investors, and ensure perpetual existence.