Question
ESSAY (can you explain it in longer and more sentence) thank you in advance Analyze the following scenarios and answer the questions Roces-Realty Corporation, a
ESSAY (can you explain it in longer and more sentence) thank you in advance
Analyze the following scenarios and answer the questions
- Roces-Realty Corporation, a lessor, obtained a favorable judgment in a suit against Good Earth Emporium, lessee, for the latter's failure to pay rentals. The judgment, however, was not executed because of the trial court's finding that Good Earth Emporium paid P2 million to Roces-Realty Corporation tantamount to full satisfaction of the judgment debt. It turned out, however, that P1 million was the consideration in the pacto de retro sale drawn in favor of Roces-Realty's officers/stockholders, Jesus Marcos Roces and Marcos Roces. Furthermore, the other P1 million paid turned out as payment for loan extended by Jesus Marcos Roces and Marcos Roces in favor of Good Earth emporium. Can the payments made to Roces-Realty's officers/stockholders be considered as payment to the corporation? Explain.
Answer:
2. C Steel and Nail Co., Inc., owned by X, had financial obligations to its employees. C ceased operation, and was immediately succeeded on the next day by, and all its assets were turned over to, the E Steep Corporation, 90% of the subscribed shares of which were also owned by X. May E Steel Corporation be held liable for the financial obligation of C Steel and Nail Co., Inc. to its employees? Decide and justify.
Answer:
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