1 & 2

1. Where title to real property is in the name of one or more but not all the partners, and the record does not disclose the right of the partnership, what is the effect of conveyance by the partners in whose name the title stands? a. The conveyance will transfer title of the property to the buyer. b. The partnership can never recover such property from the buyer. c. The partnership can always recover such property from the buyer. d. The conveyance will never bind the partnership. 2.If the partnership suffered damages through the fault of a partner, which of the following is correct? a. He can compensate his liability to the partnership with the profits and benefits which he may have earned for the partnership by his industry. b. The partner guilty of fault will be solely liable to third person. c. The courts may equitably reduce his responsibility to the partnership if through the partner's extraordinary efforts in other activities of the partnership, unusual profits have been realized. d. The guilty partner shall not reimburse the innocent partners for the damages suffered.3. In the absence of agreement among the partners, where shall the partnership's book be kept? a. At the residence of the managing partner. b. At the residence of the controlling partner. C. At the residence of the majority partner. d. At the principal place of business of the partnership. 4. The following acts are not considered administrative acts or acts for apparently carrying on in the usual way of business of the partnership and may not be performed by a single partner without authorization from all the other partners or these are acts which require unanimous vote of the partners because they are considered acts of strict ownership or dominion, except: a. Assignment of partnership property in trust for creditors or on the assignee's promise to pay the debts of the partnership. b. Disposition of the goodwill of the business. c. Acts which would make it impossible to carry on the ordinary business of the partnership. d. Confession of judgment. e. Entering into a compromise concerning a partnership's claim or liability. f. Submission of a partnership claim or liability to arbitration. g. Renunciation of a claim of the partnership. h. Payment of the salary of partnership's employee