Question
Topic Coverage: Limited Partnership X, a limited partner in a partnership with Y and Z as general partners, lawfully received the return of his contribution
Topic Coverage: Limited Partnership
X, a limited partner in a partnership with Y and Z as general partners, lawfully received the return of his contribution in the amount of P20,000, the assets of the partnership are insufficient to pay the firm's indebtedness to W. State the liability of X if the claim of W arose:
a. Before X received his contribution (5 points);
b. After X received his contribution (5 points).
2. Same facts above. X contributed property to the partnership. In case X is entitled to a return of his contribution, does he have the right to demand the return of the same property? Why or why not? Cite the applicable section. (5 points)
3. Same facts above. W, a partnership creditor, brought an action against the partnership. May X included as a party defendant? Why or why not? Cite the applicable section. (5 points)
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