BUSINESS LAW

TRUE OR FALSE

1. Eufemia, with the consent Wilfredo, told a lie to Priscilla that she and Wilfredoo are partners in the restaurant business he is running. Relying on this representation, Priscilla lent Wilfredo P500,000 for the expansion of the business which closed down eventually. Priscilla may sue Eufemia and Wilfredoo as partners.

2. Still under the facts in No.18, Janice may ask for the judicial dissolution of the partnership.

3. Under the facts of the immediately preceding question (No.18), Janice may ask for the inspection of the partnership books so she can participate in the management of the same.

4. Reynold, Melissa, Nina, and Virginia are partners in a business that was in danger of closing down for lack of operating capital. Reynold, Melissa, and Nina came to a decision that all should contribute additional amounts to save their business. Virginia refused to contribute, arguing that as an industrial partner she is exempted by law. Virginia's contention is

5. Carpio, Morales, Perlas, and Francisco is the name of a firm of lawyers. Francisco died. The remaining partners may continue to use the name of Francisco in the firm name to take advantage of his great reputation as a trial lawyer.