Alex and jhonny want to establish a business partnership that will own and operate a beach resort in Siargao ,Philippines. Since Alex is the Filipino partner, he will share 90% of the total capital contribution of five million pesos and will served as the managing partner . on the other hand , since Jhonny is the foregn partner, he will share the remaining 10% of the total capital contribution. However no one of them wants to shell out immediate cash so that the partnership could register and start operate. Instead Alex draws and issues for his 90% capital contribution his personal check that is post dated for 100 days. Johnny for his part also issues his personal check that is post dated for 95 days to pay for his 10% contribution. Given this scenario can they validly create their desired business organization?