TRUE OR FALSE 1. Being a contract of partnership, each partner must share in the profits and losses of the venture. That is the essence of a partnership. 2. An industrial partner can engage in business for himself, unless the partnership expressly permits him to do so. 3. The partners shall contribute equal shares to the capital of the partnership, unless there is a stipulation to the contrary. 4. The risk of specific and determinate things contributed to the partnership so that only their use and fruits may be for the common benefit, shall be borne by the partner who owns them. 5. If the things contributed are fungible or if they were contributed to be sold, the risk shall be borne by the partnership. 6. A stipulation which excludes one or more partners from any share in the profits or losses is voidable. 7. A partnership begins from the moment of meeting of the minds. 8. Limited partners have the absolute right to participate in the management. 9. The birth and life of a partnership at will is predicated on the mutual desire and consent of the partners. 10. The right to choose with whom a person wishes to associate himself is the very foundation and essence of that partnership. 11. Every partner is a creditor of the partnership for whatever he may have promised to contribute thereto. 12. The mutual contribution to a common fund is the first test in order to have a contract of partnership. 13. Capitalist partners are not bound to contribute additional capital