What are your verdicts in these cases?
GEE INE?IS: Start your answer with eifl'ler YES or NO. if applicable. b be followedby your legal reasons. A mere YES or NO answer without any legal reason shall be treated as a mere guess work and hence. not entitled to any points. BOTH the INITIAL ANSWER and the LEGAL REASDNr's must be correct to be given a credit. Be sure that your answer is brief and direct to the point. No erasures andr'or alterations of answers. Repeat the question for purposes of checking. 1. Jane and Vanessa formed a partnership to operate a car repaint shop in Baguio City. Jane provided capital while Vanessa contributed her labor. On the left side of the shop. Jane opened and operated a coffee shop. while on the right side of the shop Vanessa put up a car accessories store. 1a. May Vanessa engage in the business of car accessories store? Explain with legal reason. 1b. May lane engage in the business of a coffee shop? Explain with legal reason. 2. Arjan and Jasmin engaged in a buy and sale of second hand cars business which they started by buying second hand cars from the loan coming from Marieliz. Their intention was to pay the loan with the proceeds of the sale of the cars and to divide equally among them the excess or loss. less the purchase price of cars and the repairs which were all nanced by the amount borrowed from Marieliz. They did not however contribute money or Property. Can they be considered partners? Why? Explain with legal reason. 3. Meg and Katrina are close friends. Meg is engaged in business. Katrina gave Meg the amount of P100.000.00 to help her nance the expansion of Meg's business with an agreement that Katrina would be entitled to at least 30% of his profits as payment of the amount given. Is there a partnership funded by Meg and Katrina. Why? Explain with legal reason. 4. Chrisma. Twinkle and Eugene agreed to form a partnership? Chrlsma agreed to contribute a building located at Bonifacio SL Twinkle agreed to contribute One million Pesos (91.000.000.00) and Eugene the amount of Five Hundred Pesos (P500.000.00]. Twinkle failed to deliver her contribution. The partnership demanded from her delivery of her contribution but she contended that she is no longer a partner for her failure to deliver her share. . Is the position or contention of Twinkle valid? Why? Explain with legal reason. a b. What is she then in relation to the partnership. Why? Explain with legal reason. c. What is required when a real property is contributed in order that a partnership shall be valid":I Explain with legal reason. 5. Aida. Lorna and Fe are partners of ALF Partnership. Fe is the managing partner. Edmund is indebted in the amount of P5.000.00 from Lorna and P10.000 from ALF Partnership. Lorna was able to collect P1000 from Edmund and Issued a receipt in his favor. a. Is the action of Lorna valid? Why? Explain with legal reason. b. It not. how much will ALF partnership be entitled? Why? Explain with legal reason. 6. Mary and Jane agreed to form a universal partnership of prots. Aside from their salaries from work. Mary contributed a taxi and Jane contributed a building located at Ftlmando Road. During the existence of the partnership. the taxi was struck by a lightning and the building was destroyed by an earthquake. wno bears the loss of the things contributed? Explain with legal reason
