Question 21

1pts

A limited partner shall be liable as general partner in three of the following cases. Which one is the exception?

Group of answer choices

When he takes part in the control of the business.

When he is a general-limited partner as stated in the certificate.

When he participates in the management of the business.

When his surname which appears in the partnership name is also the surname of a general partner.

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Question 22

1pts

The following are all grounds for a judicial decree of dissolution except:

Group of answer choices

where a partner is rendered incapable of performing his part of the agreement

by any event which makes it unlawful for the partnership to carry on the business

when the business can only be carried at a loss

where a partner is guilty of such conduct as tends to prejudicially affect the partnership

where a partner is judicially shown to be insane

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Question 23

1pts

Which of these partners is not entitled to direct access to books and records of the partnership or to ask for formal accounting or for dissolution, etc.

Group of answer choices

Assigned limited partner

Substituted limited partner

General partner

General-limited partner

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Question 24

1pts

A, B and C formed a universal partnership of all present property on February 14, 2019. A contributed P500,000, B a car worth P500,000 and C contributed Equipment worth P500,000. The partners executed an article of co-partnership in private instrument After operation for 5 months, A and B got married. Did the marriage dissolve the partnership?

Group of answer choices

No, because spouses can enter into a universal partnership

Yes, the partnership is dissolved by the marriage, because there is a change in equity among the partners.

No, the marriage did not dissolve the partnership

Yes, because it becomes unlawful for the business of the partnership to be carried on or for the members to carry it on in partnership.

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Question 25

1pts

Which of the following losses will not cause the dissolution of a partnership?

Group of answer choices

Loss of a specific thing after its delivery to and acquisition of its ownership by the partnership from partner who contributed the same.

Loss before delivery of a specific thing which a partner has promised to contribute to the partnership.

Loss after delivery of a specific thing where the partner contributed only its use and enjoyment, he reserved the ownership thereof.

Loss before delivery of a specific thing where the partner promised to contribute only its use and enjoyment, reserving the ownership thereof.

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Question 26

1pts

If the partnership business later on becomes unlawful, it follows that the firm will not be allowed to carry on, therefore it shall be dissolved. On the other hand, if the business or object had been unlawful from the very beginning, the firm never had any juridical personality.

Group of answer choices

True

False

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Question 27

1pts

A, B, and C are partners. A dies. B knows this, but still he later transacts new business with X, a business not connected with winding up. This notice of dissolution was in the paper but X did not read the notice, and when X transacted with B, X thought all the time that the firm had not yet been dissolved. If X had been a previous creditor, the partnership is liable.

Group of answer choices

True

False