1. A, B, and C own a common apartment house which they lease to third persons for agreed monthly rentals. From the monthly proceeds of the rentals, A, B and C divide the same equally. Under the circumstances, would you consider A, B and C as partners? Reason. 2. A, B, and C are partners in a duly organized partnership engaged in the buying and selling of general merchandise. In due course of business, partner A sold to X, a customer merchandise being sold by the partnership. State whether it is necessary for A to secure the consent of B and C. Reason. 3. A, B, C and D are partners in a partnership having a capital of P400,000. A, B and C are general partners while D is an industrial partner. The exact contributions of the partners are not known and did not agree as to the sharing of profits and losses. Under the set of facts given, how would the partners share in the profits and losses? How about D, the industrial partner? Reason