Question 6

1pts

Sisa, Ungas, Pamelo, Eula, and Randy are partners of SUPER DUPER Enterprises whose business is car painting and repairs. All partners are capitalist partners with Sisa as manager. After six (6) years of operations, Randy resigned from the partnership. Although Sibal was aware of the resignation of Randy, he still bought ten (10) gallons of car paint from MISTERPAINT owned by Marlon who had been dealing with SUPER DUPER for the past 5 years, and car spare parts from SMARTPARTS, owned by Sandra who had been dealing with SUPER DUPER for the past 2 years. The dissolution of SUPER DUPER was published in the Philippine Star but neither Marlon nor Sandra read it. Neither one knew at the time they transacted with Sisa that the partnership had been dissolved. 1834

Group of answer choices

SUPER DUPER is liable to both MISTERPAINT and SMARTPARTS.

SUPER DUPER is not liable to both MISTERPAINTS and SMARTPARTS.

SUPER DUPER is liable to MISTERPAINTS only.

SUPER DUPER is liable to SMARTPARTS only

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Question 7

1pts

In winding-up or liquidation of the partnership after dissolution, which is the correct order of payment?

Group of answer choices

Return of capital contribution; then payment of creditors who are not partners; then creditors who are partners and distribution of profits.

Pay to creditors who are not partners; then the creditors who are partners; then distribution of profits and return of capital contribution.

Pay the creditors who are partners, then creditors who are third persons; then return of capital contribution and then distribution of profits.

Pay to creditors who are not partners; then the creditors who are partners; then return of capital contribution and then distribution of profits.

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Question 8

1pts

A partnership is automatically dissolved, except:

Group of answer choices

By the civil interdiction of any partner

By the insolvency of any partner or of the partnership

By the insanity of any partner

By the death of any partner

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Question 9

1pts

As regards a limited partner, which statement is correct?

Group of answer choices

He cannot be allowed to transact business directly with the partnership of which he is a member as this would result into conflict of interest.

He is automatically the agent of the partnership with general authority to bind the partnership to contracts with third persons.

He has no liability to partnership creditors even if he takes part in the management of the partnership.

He can only contribute money and property but not services.

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Question 10

1pts

Allan, Beth and Chris are partners with capital contribution of P15.000, P10.000 and P5,000, respectively. Supposed on dissolution, the assets of their partnership amount to only P46.000 and it owed Delia the amount of P50.000. Chris owes Polly on his personal account P6.000. The partners have no separate personal property except Chris whose separate property amounts to P7.000. Which is correct?

Group of answer choices

Delia and Polly shall divide Chris separate property equally.

Delia and Polly shall divide Chris property pro-rata.

Polly shall be preferred as regards Chris separate property.

Delia shall be preferred as regards Chris separate property