1.A and B formed a partnership to exploit a fishpond and thereafter to divide it between them into two (2) equalparts.Succeedingeventsrevealtheintentofbothpartiestoterminatethepartnershipbyrefusing to share the fishpond with the other - in direct violation of the undertaking for which they have established their partnership - which resolution they articulated in letter to each other. Should the partnership be considered dissolved?Explain.
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2. A withdrew as a partner from partnership X. It was the intention and understanding of the parties that A was relinquishing all his rights and interests in the partnership upon the return of all his investment, subject to the condition that A was to be repaid within three (3) days from the date the settlement was agreedupon.Thisconditionwasfulfilledwhenonthefollowingday,Awasreimbursedtheamountdue him under the agreement. Is A entitled to profits of the partnership at the time of dissolution?Explain.
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3. When a partnership for a fixed term or particular undertakings continued after the termination of such term or particular undertaking without any express agreement, what shall govern the rights and duties of the partners?
The rights and duties of the partners remain the same as they were at such termination, so far as they are consistent with a partnership atwill. The partnership shall be liquidated because there is dissolution of thepartnership. The partnership shall not becontinued. The partnership shall be governed by the rules onco-ownership.
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4. Which of the following is NOTan instance wherein a general partnership may be dissolved by a decree of court upon application by a partner, or also known as non-automatic causes of dissolution?

1. The business of the partnership can be carried only at aloss.
2. A partner willfully or persistently commits a breach of the partnershipcontracts.
3. Death of anypartner.
4. Other circumstances that render a dissolutionequitable.

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5. Who shall have the right or authority to liquidate or wind up the partnership affairs?

1. The liquidating partner agreed upon by thepartners
2. The partners who have not wrongfully dissolved thepartnership
3. The legal representative of the last surviving partner, notinsolvent
4. Any of theabove

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6. Indicate the property order on priority of claims against the separate property of a debtor who is insolvent or whose estate is insolvent.

1. Those owing to separatecreditors
2. Those owing to partnershipcreditors
3. Those owing to partners by way ofcontribution

1. I - II -III
2. II - I -III
3. III - II -I
4. I - III -II

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7. When may a partner, his legal representative, or assignee ask for liquidation or winding up of partnership affairs by the court?

1. When there is no agreement as to who shall wind up the partnershipaffairs
2. When there is no violation of articles ofco-partnership
3. When said partner violated the articles ofco-partnership
4. When said partner or legal representative or assignee shows valid cause forliquidation

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