1. Carpio, Morales, Perlas, and Francisco is the name of a firm of lawyers. Francisco died. The remaining partners may continue to use the name of Francisco in the firm name to take advantage of his great reputation as a trial lawyer.

a. true

b. false

2. Under the facts in the immediately preceding question (No. 1), assuming that Veronica entered into a contract for the partnership while still on such a vacation as mentioned above, the contract binds the partnership and her other living partners.

a. true

b. false

3. The students of Class BSA 3-1 agreed to contribute P500 each for the purpose of betting at the Lotto games of the PCSO and divide the money among themselves in case they get lucky. The contract of partnership is

a. Valid

b. Void

c. Unenforceable

d. Rescissible

4. Fred, Paul, John, and Mark contributed P10,000 each for the purpose of betting in a "jueteng" draw. The contract of partnership is

a. Valid

b. Void

c. Voidable

d. Rescissible

5. A universal partnership of all present property includes all the properties belonging to the partners at the time of the partnership was formed as well as property which the partners may acquire subsequently by reason of inheritance or donation.

a. true

b. false

6. In the situation in No.2, Dan may not engage in any business at all.

a. true

b. false

7. Dan, in partnership with Errol, set up a diner business, in which they agreed that Dan would work full time in the diner and Errol agreed to contribute money. Errol may not engage in any business other than another diner business.

a. true

b. false