Professional Documents
Culture Documents
Dipolog Medical Center College Foundation, Inc. maintains that full development of a persons
potentials depends largely on the nature, level and suitability of stimuli and the challenges he encounter
in daily life. The role of DMCCFI as institution is such that it serves as a rich interactive environment
where the student is continually encouraged, motivated, and more importantly, challenged to produce
the optimal use of his innate and acquired skills.
SCHOOL VISION
Our vision is to be a leading educational institution, highly regarded for our commitment to
students; distinguished for excellence in instruction as responsive to the communities we serve.
SCHOOL MISSION
Guided by our vision, Dipolog Medical Center College Foundation will become a premier
educational institution through: quest for excellence, academic and professional competence, advance
in information technology, community involvement, working partnership, global perspective and over-
all learning experience.
The DMC College Foundation School of Business and Accountancy has the following objectives:
1. To mold all students to become computer literate, socially responsible, globally aware,
analytical, and reasonable decision-making individuals who are competent in interpersonal, oral
and written communication skills.
2. To produce graduates who are well-versed in the fundamental economic and business
principles, as well as the practical application of those principles in the simulated business
setting.
3. To design our educational programs in ways that prepares students or leadership roles in the
dynamic, domestic and global.
4. To deliver business professional who will be perceived not just business managers but leaders in
the society.
5. To constantly update the curricula of the different programs to prepare students to adapt to the
rapidly changing technology and to recognize diversity in the work place.
6. TO ensure that faculty members are responsible, committed and qualified in their respective
fields or profession.
7. To promote among the faculty members integrity, professionalism and compliance to the latest
trends, standards and developments in their chosen field of expertise.
8. To emphasize social responsibility as one of the business cores in nurturing well-rounded
business professionals of the future.
DIPOLOG MEDICAL CENTER COLLEGE FOUNDATION
Sta. Filomena, Dipolog City
COURSE CODE : BL 2
COURSE TITLE : Law on Business Organization
CREDIT UNIT : 3 units
LECTURE HOUR PER WEEK : 3 hours
I. COURSE DESCRIPTION
This course is intended to give the students a broad knowledge of legal provisions governing
business associations-limited liability company, partnership and corporations. Topics include: nature
of partnerships; elements and kinds of partnership; formalities required; rules of management,
distribution of profits and sharing of losses and liabilities; modes of dissolution; limited partnership;
nature and classes of corporations; requirements for incorporation; powers of a corporation
(expressed, implied and incidental); board of directors; classes of stock; powers and obligations of
stockholders; majority and minority controls; corporate reorganization (merger, consolidation and
other business combinations); modes of dissolution and liquidation; and statutory books, records
and returns required for a corporation. Also discussed are the laws of associations such as clubs.
III. METHODOLOGY
Interactive discussions, graded oral recitations, read and explain each articles, pre-tests and
post-tests and fishbowl.
2. Partnership
Brief history of Partnership
2.2.3 Section 3: Obligations of the Partners with Regards to Third Persons Week 5-6
2.2.3.1 Definition of Firm name
2.2.3.2 Effect if the partnership name uses the name of a deceased person
2.2.3.3 Industrial partner cannot exempt himself from liability to third persons
2.2.3.4 Presumption that partner is agent
2.2.3.5 Partnership as mutual agency
2.2.3.6 Power of a partner
2.2.3.7 Limitations on partners authority
2.2.3.8 Conveyance of real property of the partnership
2.2.3.9 Admission by partner
2.2.3.10 Meaning of estoppels
2.2.3.11 Person bound by his representation
3.4.3 Sec 38. Power to increase or decrease capital stock; incur, create or increase
bonded indebtedness
3.4.4 Sec 39. Power to deny pre-emptive right
3.4.5 Sec 40. Sale or other disposition of assets
3.4.6 Sec 41. Power to acquire own shares
3.4.7 Sec 42. Power to invest corporate funds in another corporation or business or
for any other purpose
3.4.7 Sec 43. Power to declare dividends
3.4.8 Sec 44. Power to enter into management contract
3.4.9 Sec 45.Ultra vires acts of corporations
VI. REFERENCES