1. What is a partnership?
2. Why is partnership considered onerous?
3. Taking into consideration the elements of contract that you have learned in your subject Obligations and Contracts, explain why a partnership is considered a contract.
4. Christinne, Bonna and Teresa agreed to contribute their money to a common fund for business. After deliberating what business to do, they decided to sell prohibited drugs in the black market. Based on your readings, what can you say about this? Was there a partnership that was created? Explain.
5. Conrad, Mila and Manuel agreed to contribute their money to a common fund for business. Since they are brothers and sisters, they decided not to put their agreement in writing. Based on your readings, what can you say about this? Was there a partnership that was created? Explain.
6. Jeffry and Jonathan decided to form a partnership for the restaurant business that they wanted to put up. Ryan and Arwin also agreed to join the partnership but they will only contribute their skills in cooking. Determine which kind of partner is Jeffry, Jonathan, Ryan and Arwin
7. This is a partnership where the partners contribute all the property which actually belongs to them to a common fund, with the intention of dividing the same among themselves, as well as all profits they may acquire. (2.5pts.)
8. This is a partnership where all partners are general partners who are liable even with respect to their individual properties, after the assets of the partnership have been exhausted. (2.5pts.)
9. A partnership where the term for which it is to exist is fixed or agreed upon or one formed for a particular undertaking.
10. What is a "Future Partnership?"