Nita is an accomplished salesperson, having more than twenty years of experience in direct selling.Meanwhile, Celine and Natasha are famous bag designers.In 1998, the three formed a partnership engaged in selling ladies' bags and accessories.Both Natasha and Celine contributed P500,000 each.Nita's contribution was her skills and experience as a salesperson.They agreed that they would sharepro ratawith the profits and losses.The business lasted ten years.Upon dissolution, the partnership had an outstanding obligation of P300,000 to Marikina Leather, a supplier of raw materials.

Assuming that the partnership was already insolvent, are all partners personally liable to pay the partnership obligation to Marikina Leather? Why?(10pts)

Assuming that, in the Articles of Partnership, all the partners agreed that Nita is to be exempted from liability to third persons, is this a binding stipulation? Why?