QUESTIONI Jo yeong and Eunsop are co-owners of an inherited property. They said property remained under their common management and used it in business by leasing them. The profit derived therefrom was invested by them in securities. As a result, their property and investments gradually increased. Distinguish Co-ownership from Partnership * Your answer Are Jo Yeong and Eunsop Partners? Why.* Your answer QUESTION II Ri Jeong-hyeok entered into a verbal agreement with Yoon Se-Ri to form a partnership for the purchase of cascoes for a proposed boat rental business. It was agreed that Yoon Se-Ri would buy the cascoes and each partner is to furnish such amount of money as he could, and that the profits will be divided proportionately. After Yoon Se-Ri purchased a casco with the money advanced by Ri Jeong-hyeok, they undertook to draft the articles of partnership and embody the same in an authentic document. However, they did not come to an agreement. So, Yoon Se-Ri returned the money advanced by Ri Jeong-hyeok, which the latter received with an express reservation of all his rights as a partner. Was there a partnership formed between Ri Jeong-hyeok and Yoon Se-Ri?* Your answer If such partnership existed, was it terminated by the receipt of Ri Jeong-Hyeok of the money he advanced?* Your answer QUESTION III MONICA, CHANDLER and ROSS are general partners in a FRIENDS merchandising firm. Having contributed equal amounts to the capital of Three Million Pesos (PHP 3,000,000), they also agree on equal distribution of whatever net profit is realized per fiscal period. After two years of operation, however, ROSS conveys his whole interest in the said firm to PHOEBE, without the knowledge and consent of MONICA and CHANDLER A. Does the assignment of interest result in the dissolution of the FRIENDS merchandising firm? Explain briefly. * Your answer B. What are the rights of PHOEBE, if any, should she desire to participate in the management of the partnership and in the distribution of a net profit of P500, 000.00 which was realized after her purchase of interest of ROSS?* Your answer C. Distinguish Dissolution from Winding Up * Your