1. Which form of business organization you would prefer to carry out your business in the future? Is it in a corporate form or partnership form? 2. What are the advantages and disadvantages of doing business in a corporate form when compared with doing business in partnership form? 3. What are the consequences of a partnership formed for an unlawful purpose? 4. A and B inherited from their father an apartment which is leased to third persons. Are they partners? 5. A, B, and C, joint owners of merchandise , consigned it for sale abroad to the same consignee. Each gave separate instructions for his own share. Are A, B, and C partners? 6. In the following cases, explain whether Y is a partner or not in Partnership X. a.) Y, creditor of partnership X, is entrusted by the partners to manage the business, and Y shall receive, in addition to his compensation, a share in the net profits of the business in settlement of his credit. b.) Y, an employee of partnership X, shall receive instead a fixed salary, or being the owner of a building rented by the partnership. Y shall receive as rent a certain percentage of the monthly net profits of the business. c.) Y, the widow of a deceased partner in partnership X, in consideration of the continuation of the business without liquidation and satisfaction of the deceased's interest, shall receive an annuity for a period of five (5) years based on a certain percentage of the net profits. d.) Y, creditor of partnership X, agreed that the payment of interest shall be taken from the net profits to be realized by the partnership; and e.) Y sold property to partnership X, and he agreed that the purchase price shall be paid out of the net profits of the business. Can a partnership be a stockholder in a corporation? Explain