Question
1. Partners A, B and C are engaged in the business of selling lechon manok in Paranaque. A & B are capitalist partners while C
1. Partners A, B and C are engaged in the business of selling lechon manok in Paranaque. A & B are capitalist partners while C is an industrial partner. Which of the following statements is correct?
a. Unless there is stipulation to the contrary, A or B may not separately enter a business engaged in selling lechon manok.
b. Unless there is stipulation to the contrary, A or B may not separately engage in any type of business. c. Without need of express permission from the partnership, C can separately enter a business engaged in selling chicken barbeque sauce.
d. Without need of express permission from the partnership, C may separately enter a business engaged in selling lechon manok.
2. Thirdee is a debtor of both ABC partnership and A, the Managing partner of ABC partnership. Thirdee owes the partnership P100,000, with interest of 10% per annum, and secured by a mortgage on Thirdee's agricultural lot, while he owes A, P50,000, also with interest of 10% per annum. Both debts are due and demandable. Which of the following statements is correct if Thirdee pays P9,000 to A?
a. Thirdee's payment shall be applied proportionately even though A may have given a receipt for his own credit only.
b. Thirdee's payment shall be applied wherever credit he wishes to be paid first in accordance to the right granted by Article 1252.
c. Thirdee's payment shall be applied totally to the partnership credit since it is more onerous than A's credit.
d. Thirdee's payment shall be applied proportionately provided A gives a receipt for the partnership credit only.
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