A decided to estabish X Corporation to do confectionery business with his friend B and C. After preparing the articles of association as promoters, 500 of the 1000 shares(value 1000 won) to be issued upon establishment were acquired by A, 300 shares by B, and 200 by C.

A and C decided to pay the principal in money and B with the confectionery machine(calculated as 3 million won).

Later, A and B werr appointed as directors at the inaugural meeting, and the court-appointed inspector inspected the confectionery machine and ended the registration of the establishment.

1. What is the wrong procedure and why is it wrong above.

2. How should we deal with the shortage of 600,000 won in cash and confectionery machines that have been paid in stock since the registration was completed?

3. What should I do if the machine B is supposed to pay was lost before moving to the company, but this machine is specially manufactured and there is nothing replaceable?