D is a partner for 25 years. Unfortunately, his home was burned down. He asked for help from the partnership. It was agreed upon that D will use the second floor of the building that is being used by the partnership. Is this agreement valid? * CO O) Yes. D is a co-owner of the partnership so he can use the properties of the partnership for any purpose. O Yes. Even if D is a co-owner he must obtain the consent of the partners to use the partnership property for hi: own benefit. O) No. The co-owned properties can only be used for the benefit of all the partners. O No. Even if D is a co-owner, the properties of the partnership must be used for the purpose it was agreed upon. A and B realized that the partnership is hindering them from starting their respective families. Due to the urgency of the decision, they moved to dissolve the partnership. What kind of dissolution is applied? * None of the above Extrajudicial O Judicial By operation of lawThe partnership was being dissolved. Partner D has decided to resign as a partner. However, the coffee supplier of the partnership without being informed that D has resigned already, delivered 100 kilos of premium coffee beans to D. The supplier is now asking for the payment. May the supplier obtain payment from D? * () No. D is only liable for his limited accounts in the partnership. No. D did not order for the coffee beans so he is not personally liable to the supplier. O) Yes. D remains to be a partner since the partnership is still in the dissolution stage. () Yes. D remains to be a partner because the supplier was not informed of his status. J was an industrial partner. The Articles of Partnership required J that every week he will work for the partnership for not more than 40 hours a week. One day, J had to work for 50 hours a week. Among the rights of a partner, what can J avail to get payment for the extra hours of work for the partnership? * Right to share in the profits O None of the above O Right to return of capital O Right to compensationL was the designated managing partner in the Articles of Partnership. One day, L received an order from the court to enter into an arbitration with another company. May L perform the duty to enter into arbitration? * () No. L cannot enter into an arbitration without the unanimous vote of the partners. O) Yes. L being the managing partner may perform any acts of administration such as arbitration. O Yes. L can in good faith enter into an arbitration because of the urgency of the matter. () No. L must first obtain the majority vote of the partners to enter into an arbitration.D was tasked to buy all the coffee beans supplies for the partnership. The accountant of the partnership gave D P100,000.00. When D was about to pay the coffee beans, D found out that he was lacking P50,000.00. So that he will not be delayed in delivering the coffee beans, D gave an additional P50,000.00. What right can D avail to get back his P50,000.00? * He has the remedy for information He has the remedy for accounting He has the remedy for return of the capital He has the remedy to file for reimbursement G is a capitalist partner. He was able to contribute P500,000.00 for the benefit of the partnership. Fortunately, the partnership became so successful. G is now demanding the return of his P500,000.00 because there is sufficient capital for the partnership. What will you tell G as the accountant of the partnership? * O Ghas no right to return his advances because dissolution is not yet effected. Ghas the right to the return of the capital because he was able to comply with his duties as a partner. O Ghas no right to the return of the capital because dissolution is not yet effected. O Ghas the right to return his advances because a sufficient capital is already available