PLS ANSWER IN PHILLIPINE LAW CONTEXT:

Direction: Answer the problem briefly and concisely. A mere "Yes" or "No" answer will not be given credit.

1.Can a husband and wife form a partnership to engage in real estate business, with the wife being the managing partner? (3 points)

2.Can two corporations organize a general partnership under the Civil Code of the Philippines? (3 points)

3.Mickey, Minnie, Donald and Goofy agrees to form a partnership wherein Mickey will contribute P1,000,000, while the other partners will contribute P10,000 each to the partnership's funds. Mickey is a multi-millionaire, and his joining the partnership was to help his 3 friends to start a business and earn income on their own. They agreed that Mickey shall no longer share in the partnership profits, and any profit and losses shall be divided equally among Minnie, Donald and Goofy. Is the agreement of the partners valid? Explain your answer. (5points)

4.Who are not allowed by law to become a partner in a contract of partnership? (5points)

5.Belle, Arianne, Aurora, Cinderella and Mulan agreed to form a partnership to engage in a network marketing business. All of them are excellent communicators and have experiences in sales and marketing. They agreed to contribute their respective skill and industry to the partnership. None will be contributing money or property in the partnership funds, since they decided that they would utilize the social media in their business, and all their transactions will be on a work-from-home arrangements. Was a partnership formed? Cite your reason. (5points)

6.Isko and Pita agreed to form a partnership to engage in the selling of construction materials and supply. Each contributed money and property to the partnership's funds totaling P700,000. They started their business operations after securing the Mayor's Permit, however, they failed to register their partnership with the Securities and Exchange Commissions. What is the effect on their failure to register with the SEC, to the legality of the partnership, and the legality of their business operations? (5points)

7.Define the following terms: (4 points)

a.Partnership at will

b.Limited partnership

c.De jure partnership

d.Partnership by estoppel