Gerald Mason and Josh Bartolome formed a partnership to operate a car repair shop in Taguig City. Gerald provided the capital while Josh contributed his labor and industry. On one side of their shop, Gerald opened and operated a coffee shop, while on the side, Josh put up a car accessories store.

May Gerald engage in such separate businesses?

May Josh engage in such separate businesses?

2.Kabayan Noli subscribed to 100,000 shares of stock of San Miguel Foods Corpo, which has a par value of P1 per share. He paid P25,000 and promised to pay the balance before December 31, 2019. San Miguel Foods Corpo declared a cash dividend on October 15, 2019, payable on December 1, 2019

Who should declare the issuance of cash dividends?

For how many shares is Kabayan Noli entitled to be paid cash dividends?

3.Discuss the trust fund doctrine