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English, 28.10.2019 22:29
Mr. chua in his plan for expansion by putting up a branch of his grocery near cubao, has decided to take the third option: incorporating under the business name, "chua groceries, inc." he figures that he needs a subscribed and paid up capital of ₱100 million to be submitted to the securities and exchange commission (sec). he has only ₱50 million cash in the bank. he invited two close friends to chip in the balance of ₱50 million to make up for the balance. mr. chua wants to be elected as president and his wife as treasurer of the company. his two friends would be elected vice-president and corporate secretary, respectively. while mr. chua, his wife and son, the manager of the planned branch of the grocery store, would control the day to day operations of the company, he does not feel comfortable with the 50-50 sharing of the capital. what if relations with his two friends turn sour in the future? aggressive and ambitious that mr. chua is, what worries him is if he further e
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