Comments on: Forms of Business: Sole Proprietorship, Partnership, Corporation http://jlp-law.com/blog/forms-of-business-sole-proprietorship-partnership-corporation/ Philippine laws and legal system (JLP-Law blog) Fri, 10 Feb 2012 06:59:54 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: ramonsd http://jlp-law.com/blog/forms-of-business-sole-proprietorship-partnership-corporation/comment-page-1/#comment-13518 ramonsd Thu, 13 May 2010 03:44:23 +0000 http://jlp-law.com/blog/forms-of-business-sole-proprietorship-partnership-corporation/#comment-13518 A,B,C,D,E decided to incorporate their business. A owns 70%, B 15% and the rest 5% each. A and B are co-signatories to the corporate bank account. A wants to be sole signatory as B refuses to affix his signature to any check. Company payables are mounting. C,D, and E can no longer be found. Can A unilaterally declare via a board resolution that he alone is the new company signatory? Can he do it without notifying B? Assuming the bank accepts the board resolution, can B sue A and the bank? What are their liabilities, if any? ramonsd A,B,C,D,E decided to incorporate their business. A owns 70%, B 15% and the rest 5% each. A and B are co-signatories to the corporate bank account. A wants to be sole signatory as B refuses to affix his signature to any check. Company payables are mounting. C,D, and E can no longer be found.

Can A unilaterally declare via a board resolution that he alone is the new company signatory? Can he do it without notifying B?

Assuming the bank accepts the board resolution, can B sue A and the bank? What are their liabilities, if any?

ramonsd

]]> By: deuts http://jlp-law.com/blog/forms-of-business-sole-proprietorship-partnership-corporation/comment-page-1/#comment-11045 deuts Sun, 30 Mar 2008 06:34:59 +0000 http://jlp-law.com/blog/forms-of-business-sole-proprietorship-partnership-corporation/#comment-11045 I have a question, which I hope someone from here can answer. What's the law that requires accounting firms to change their firm name whenever no more partner, whose name was previously included in the firm name, are affiliated or working in the firm (meaning, retired or deceased). Moreover, why is it that accounting firms in the Philippines cannot change their firm name to their international affiliates, just like in the case of MDAC (formerly CLMC) to Deloitte, SGV & Co. to Ernst & Young, etc? What's the difference between the Philippine Law and other laws in Southeast Asia regarding partnership names. Note: Deloitte-Singapore is "Deloitte-Singapore" in Singapore, not just any Chinese partners' names. Thanks, Jorelle I have a question, which I hope someone from here can answer. What’s the law that requires accounting firms to change their firm name whenever no more partner, whose name was previously included in the firm name, are affiliated or working in the firm (meaning, retired or deceased).

Moreover, why is it that accounting firms in the Philippines cannot change their firm name to their international affiliates, just like in the case of MDAC (formerly CLMC) to Deloitte, SGV & Co. to Ernst & Young, etc? What’s the difference between the Philippine Law and other laws in Southeast Asia regarding partnership names. Note: Deloitte-Singapore is “Deloitte-Singapore” in Singapore, not just any Chinese partners’ names.

Thanks,

Jorelle

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