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Statement 1: Every partner is responsible to the partnership for damages suffered by it through his fault, and he cannot compensate them with the profits and benefits which he may have earned for the partnership by his industry.

Statement 2: The risk of specific and determinate things, which are not fungible, contributed to the partnership so that only their use and fruits may be for the common benefit, shall be borne by the partner who owns them

Statement 3: A partner's interest in the partnership is his share of the profits only.

Statement 4: A stipulation which excludes one or more partners from any share in the profits or losses is valid.

a.Three statements are true

b.Only one statement is true

c.Two statements are true

d.All statements are true