Instruction: Answer and explain briefly the following items.

41. What are the causes of dissolution of a partnership by decree of the court?

42. In settling accounts between the partners after dissolution of a general partnership, state the order of payment of firm's liabilities.

43. In settling accounts between the partners after dissolution of a limited partnership, state the order of payment of firm's liabilities.

44. What is the effect if a limited partner takes part in the control of the business?

45. In the sale of a piece of land or any interest therein through an agent, what is the form which is necessary for its validity?

46. What are the different cases or instances wherein an agent shall have to secure a special power of attorney in order to bind his principal?

47. An agent with general powers of administration, leased to another person: (1) a parcel of land belonging to his principal for 5 years at P50,000 a year payable annually; and (2) a car for 2 years at P4,000.00 a month payable monthly.

What contract/s is/are valid and binding upon the principal? Explain.

48. An agent with general powers of administration, desirous of improving the financial condition of his principal's business, sold a piece of land belonging to his principal for triple the price that appeared in an inventory prepared by the principal before leaving the place.

Has the agent exceeded his powers? Explain.

49. A is P's agent. Both agreed that A would advance the necessary funds, but later P became insolvent.

Is A still bound to furnish such necessary funds? Explain.

50. P instructed his agent A to charter a boat from Zamboanga to Manila and to load the principal's goods with the specific instructions to sail from Zamboanga to Manila on December 1, 2020, and thereafter to sell the goods upon arrival in Manila. The weather condition based on the report of PAGASA on the date of the scheduled departure showed that a strong typhoon directly cross the path of the boat. Considering the circumstances, it would be safe to sail only after one week. In the meantime, the prices of the goods at Manila went down by 50%. P thus fell short of the profits he expected to realize.

Would A be liable to P? Explain.

51. P owns a Honda Civic car, model 2020. He appoints A to sell the car. A is also an owner of a Honda Civic car of the same model as that of P. X a third person, is interested in buying either P's or A's car for P500,000.00, an attractive price.

If A sells his own car (and not the car of P), what is the right of P against A? Explain.

52. P authorized A to sell his car for P500,000 cash with 5% commission. A was able to sell the car for P600,000.00 cash or P100,000.00 more than P's price.

How much is Y accountable to X? Explain.

53. May an agent appoint a substitute? If so, in what cases is the agent liable for the acts of the substitute?

54. A is P's agent. A was prohibited by P to appoint a substitute. Nevertheless, A appointed S as substitute. S sold the goods belonging to P to B, who was a purchaser in good faith.

Is the sale valid? Explain.

55. P appointed A and B as agents. Solidarity between the agents was agreed upon. Thru B's fault but acted within the scope of his authority, the agency was not fulfilled.

Can P also sue A for damages? Explain.

56. P gave his agent A a power of attorney, wherein it was written that A has the right to sell 2 parcels of land belonging to P. P and A however had an understanding to the effect that A should only sell one parcel of land. A sold both parcels of land and P did not ratify the contract.

Is P bound by the sale of both parcels of land? Explain.

57. What are the distinctions between an ordinary commission agent and a guarantee commission agent?

58. A was P's commission agent who was authorized to sell P's car on cash. However, Asold it on credit.

What are P's rights against A? Explain.

59. What are the causes for the extinguishment of a contract of agency?

60. How may a contract of agency be revoked? What are the exceptions to the rule that agency is revocable by the principal at will?