Question
On Christmas 2006, childhood friends, W, X, Y and Z agreed to form an overseas employment recruitment firm- a particular partnership. On May 10, 2007,
On Christmas 2006, childhood friends, W, X, Y and Z agreed to form an overseas employment recruitment firm- a particular partnership. On May 10, 2007, they signed and registered their Partnership Agreement where W, X, and Y would contribute P250,000 each while Z would be industrial partner and managing partner. They called the firm Papi Excel. For almost two years, the firm had not operated of lack of funds as Y failed to contribute his share. On May 1 2009, however, the firm booted out Julio and substituted him A, Z's husband who was gave P250,000 as contribution.
Questions:
a.When did the partnership commence?
b.What kind of partners W, X, Y, and Z?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started