Question
A, B and C are partners in ABC Enterprises. Not having established yet their credit standing, the three partners requested D, a well known businessman,
A, B and C are partners in ABC Enterprises. Not having established yet their credit standing, the three partners requested D, a well known businessman, to help them negotiate a loan from E, a money lender. With the consent of A, B and C, D represented himself as a partner of ABC Enterprises. Thereafter, E granted a loan of P150,000 to ABC enterprises. ABC Enterprises was unable to pay the loan on due date at which time the assets of the partnership amounted to P120,000. From whom may E collect the payment?
a. A, B and C who are liable jointly for P50,000 each.
b .ABC Enterprises for its assets of P120,000 thereafter, A, B, C and D from their separate assets at P7,500 each.
c .ABC Enterprises for its assets of P120,000; hereafter, A, B and C from their separate assets at P10,000 each.
d. D only for the whole amount of P120,000.
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