1. Upon the dissolution of a universal partnership of all present property, the properties owned by the partners at the time of the formation of the partnership will be divided among themselves.

a. True

b. False

2. A partnership formed for the exercise of a profession is an example of a

a. Universal partnership of present property

b. Universal partnership of profits

c. Particular partnership

d. None of the above

3. The principle of delectus personarum in the law on partnerships relates to the:

a. Right against unreasonable searches and seizures.

b. Possibility for a partner to be both a limited and a general partner at the same time.

c. Right to choose with whom a person wants to go into partnerships

d. All of the above.

4. Where persons, without being partners, mislead others into believing that they are partners in a venture and such others, relying on the misrepresentation, suffer harm or injury, a _____________ is considered by the law to have been formed:

a. De facto partnership b. Partnership by estoppel

c. De jure partnership

d. None of the above

5. While operating a refrigerated truck on the way to organic beef to customers of his partnership with Jimmy and Sequoia, partner Redentor, who turned out to be drunk, slammed into a sari-sari along the road resulting in severe injuries suffered by the person minding the store. Which of the following is true?

a. The partnership and the other partners are not liable for damages resulting from the criminal negligence of partner Redentor

b. The partnership and the other partners are jointly liable with Redentor for damages resulting from the criminal negligence.

c. The partnership and the other partners are solidarily liable with Redentor for the criminal negligence

d. None of the above