III. TRUE on FALSE. (10 pts.) Write (T) if true and (E) if false. (10 pts.) 1. A partner is liable for interest and damages from the time an extra -judicial demand is made on him by his other partners 2. A buyer shall acquire tittle or ownership when he purchased a partnership property in the name of the partnership in case the deeds of conveyance were executed by all the general partners . A dormant partner is both a silent and a secret partner. 4. As to legality of existence 1 partnership can be commercial or professional partnership 5. A limited partner is a special partner for he is liable up to the extent of his capital contribution . There is a valid partnership in order for one to become a partner by estoppel . Co ownership is equal to partnership 8. Despite the absolute prohibition , an industrial partner can be allowed to engage in a business for himself as long as there is an express permission from his wife . 9. An industrial partner is obliged to contribute additional capital in case there is imminent loss to the partnership 10. Partners shall contribute equal shares to the capital of the partnership unless there is a contrary stipulation DJ '40) IV. PROBLEMS. Apply the laws on partnership to explain your answer? (10 [Its -} 1. Lando, Landis and Landa are college students and they jokingly misrepresented themselves as real estate brokers and partners in Triple Land 8.: Co. (TLC). They approached Kristian who is desperate to buy a house and lot and told him that a downpayment of P100,000 will solve his problem. Convinced that the three are partners and the TLC is a valid partnership, Kristian gave them the money in cash. It was only later that Kristian discovered that the three are just college students and he was defrauded by them. He filed a case of collection and damages against TLC in court. The three students countered that TLC does not exist and so the case should be dismissed. If you are thejudge, how will you resolve it? Explain your