True or False 1. In a contract of partnership, agency exists because a partner is an agent of another partner. 2. There is an element of trust between a limited partner and the other partners. 3. If there is stipulation as regards the partnership's period of existence, a partner cannot ask for the dissolution of the partnership before the agreed period. 4. An action for specific performance is available if a limited partner fails to perform the promised service. 5. Even if the definition of partnership does include sharing of losses, an industrial partner is still liable for such. 6. Managing partner has the right to demand for compensation because he perforns actions in behalf of the partnership and all the other partners. 7. Capitalist partner cannot engage in another business without the consent of all the other partners. 8. A secret partner takes no active part in the partnership. 9. If there are two managing partners, their concurrence is necessary for the administration of the partnership affairs. 10. Partners can designste one partner to determine how profits will be distributed among them. Define the terms Partnership Civil Interdiction Winding up Joint venture Limited partner thank you