1.Bill Gates and Paul Allen formed the partnership Microsoft Company. Steve Jobs, a third person, failed to pay his loan to Microsoft Company. Can Bill Gates sue Steve Jobs for collection of money in his own name and for his own benefit? Why or Why not? (5 pts)

2.Shane donated a condominium unit to Shayne, Jane and Justin who agreed among themselves to lease it to Zenna and share in the rentals. Are Shayne, Jane and Justin partners? Why or Why not? (15pts)

3.If a partner failed to contribute property he promised in the articles of partnership, what is the legal remedy of the other partners? (5n pts)

4.When does a partnership begins or commences? (5 pts)

5.In what particular case or instance are capitalist partners obliged to contribute additional capital? (5 pts)

6.A, B & C formed a partnership for a term of five (5) years. A assigned his interest to D. When B and C knew of the assignment, they decided to dissolve the partnership. Can they dissolve the partnership without the consent of D? Why or why not? (5pts)

7.In the above problem,if the partnershipis continued after five years,canC or D dissolve the partnership at anytime? (5 pts)

8.Can a husband (H)and his wife (W) who are CPAsform an accounting firm with H as general partner and W as the limited partner?

9.Can SM Land Corporation and Robinsons Land Corporation organize a general partnership?

10. In case of conflict between three managers whose duties are unspecified, and the consent of all is required, who will decide on the matter? (5 pts)

11. How do you determine the share of the industrial partner in the sharing of the profit?

12. A is a capitalist partner inXpartnership engaged in bakery business. While the partnership is subsisting, he invested as capitalist partner in Y partnership engaged in the clothing business. The partners in X partnership demanded that A shall bring to the common fund allhis share in the profits Y partnership? Are the partners correct? Why or why not?

13. X has a loan of P10,000 with 5% interestto A partnership due on July 30, 2015, and the same amount to B, a managing partner thereof with 10% interest, due on July 15, 2015.On July 20, X paid to P5,000 to B who issued a receipt in his name?Can B appropriate for himself all the money paid?