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QUESTION VI Sahara, Sarah, Sars, and Sareh named as a limited partner, are members of SSSS partnership. Sahara contributed P500,000.00, Sarah P100,000.00, Sars, P100,000 and
QUESTION VI Sahara, Sarah, Sars, and Sareh named as a limited partner, are members of SSSS partnership. Sahara contributed P500,000.00, Sarah P100,000.00, Sars, P100,000 and Sareh, P300,000.00. During the life of the partnership, Zarah extended credit to SSSS Partnership in the amount of 300,000. The partnership was also indebted to Sars in the amount of 50,000. On dissolution, the assets of the partnership amounted to P1,500,000.00 What is a Limited Partnership * Your answer What are the essential requisites for a limited partnership * Your answer What is the Doctrine of Marshaling of Assets * Your answer What is the Doctrine of Marshaling of Assets * Your answer Distribute the amount of P1,500,000.00. among the creditors and partners * Your answer Question VIII Steve was the managing partner of a firm for the night bar called Unli Bucky Partnership along with partners Thor, T'Challa, and Tony. Because the enterprise was unprofitable, the same was discontinued. When sued for an accounting Steve refused on the ground that under the terms of their partnership contract, dissolution could be done only by a vote of 2/3 of the members, and such vote had not yet taken place. Is the contention of Steve tenable?* Your answer TRUE OR FALSE. Answer TRUE if the statement is true, or FALSE if the statement is false. Explain your answer in not more than two sentences. An oral partnership is valid. * Your answer The partnership agreement is valid where an immovable property is contributed and the parties included it in the inventory attached in their private contract * Your answer A partnership that has not been registered in the Office of the Securities andExchange Commission is voidable * Your
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