Could you share your answer for these so I can compare mine to yours? Thank you. Please leave a brief explanation as to why you chose the letter.

. Statement 1. In universal partnership of profits, the risk of loss of the movable property which was delivered to the partnership remains with the contributing partner. Statement 2. Rights over specific partnership property can be assigned to the other partners discreetly.

a. Both Statements are TRUE

b. Both Statements are FALSE

c. Only Statement 1 is TRUE

d. Only Statement 2 is TRUE

Statement 1. A partnership has a juridical personality separate and distinct from that of each of the partners. Statement 2. Any judgment creditor of a partner may charge, attach and execute a partner's interest in the partnership.

a. Both Statements are TRUE

b. Both Statements are FALSE

c. Only Statement 1 is TRUE

d. Only Statement 2 is TRUE

Statement 1. Losses in the absence of any stipulation and no profit sharing agreement shall be divided according to capital contribution. Statement 2. Profit and loss sharing can be entrusted to a third person but not to one of the partners.

1 point

a. Both Statements are TRUE

b. Both Statements are FALSE

c. Only Statement 1 is TRUE

d. Only Statement 2 is TRUE

Statement 1. The parties to a mortgage of a house and lot cannot validly stipulate that the mortgage property cannot be sold except with the consent of the mortgagee. Statement 2. Real Estate Mortgage to be valid as to third person is sufficient if it has been embodied in a public instrument.

a. Both Statements are TRUE

b. Both Statements are FALSE

c. Only Statement 1 is TRUE

d. Only Statement 2 is TRUe

Statement 1. In sale with right to repurchase, the vendee a retro is liable to return to the vendor the purchase price and its interest at the time of the redemption. Statement 2. Owners of property seized and sold for tax delinquency shall have no right of legal redemption.

1 point

a. Both Statements are TRUE

b. Both Statements are FALSE

c. Only Statement 1 is TRUE

d. Only Statement 2 is TRUE

Statement 1. Mutuum is a consensual contract. Statement 2. The pledgor will retain possession over the subject matter of the contract.

a. Both Statements are TRUE

b. Both Statements are FALSE

c. Only Statement 1 is TRUE

d. Only Statement 2 is TRUE

Sandy, 16 years old sold to Bert, of legal age, a specific diamond ring for P10,000. Later, Bert sold it to Zhao. Which of the following statements is incorrect?

a. Sandy has got a voidable title because at the time of the sale she is a minor

b. Zhao, if in good faith, shall become the owner upon delivery to him

c. Zhao, if in bad faith, shall also be the owner, except that his title is voidable

d. None of the above

B pledged his 24 k gold necklace to C for P4,000.00. B failed to pay C the P4,000.00, on due date. C sold the gold necklace at a public auction to the highest bidder for P3,500.00.

a. C can recover the deficiency of P500.00 from B

b. C can recover the deficiency of P500.00 even without stipulation

c. C cannot recover the deficiency of P500.00 unless there is stipulation

d. C cannot recover the deficiency of P500.00 even if there is stipulation.

Mr. Santos authorized Mr. Canlas to sell his car for P200,000.00 with 5% agents commission. Mr. Canlas sold the car to Mr. Dizon for P250,000.00. For how much is Mr. Canlas accountable to Mr. Santos?

a. P200,000.00

b. P190,000.00

c. P250,000.00

d. P240,000.00

The distinction between a chattel mortgage and a pledge is that in chattel mortgage:

a. The delivery of the personal property is necessary

b. The registration of the property in the Registy of Property is not necessary

c. The excess over the amount due after foreclosure goes to the debtor

d. Answer not given

. A Pacto de Retro Sale is deemed an Equitable Mortgage if:

a. The assessed price is unconscionably inadequate

b. The intent of the parties is only to use the thing as collateral

c. If there is a unilateral promise to sell

d. None of the above

In relation to the rule of mutual agency of the partners, in a partnership which of the following is not correct?

A. Partnership is liable to every partner for amounts disbursed on behalf of the partnership, plus interest, from the time the expenses are made.

B. Unless otherwise agreed upon, all partners shall be considered agents and whatever any one of them may perform alone binds the partnership.

C. Anyone of the partners may make important alterations on the immovable property of the partnership.

D. Admission or representation made by a partner concerning partnership affairs is evidence against the partnership.

When is solidary liability in partnership provided for by law?

A. If there is a tortuous act committed by a partner causing damage to third person

B. If it was the partnership that misapplied or misappropriated the money or property

C. If money was received by the agent of the partnership acting within the scope of his authority, but the same was misapplied or misappropriated.

D. All of the above