401E PQUIZ 2B

Question 1

A partner shall also be liable for the fruits of the things he promised to deliver from the time they should have been delivered, provided there is demand.

Answer 1

FALSE ( EVEN IF THERE IS NOT DEMAND, HE IS LIABLE TO COMPLY)

Question 2

Unless there is a stipulation to the contrary, the partners shall contribute in equal shares to the capital of the partnership.

Answer 2

TRUE

Question 3

Partners can stipulate that their partnership shall begin from the moment the cash contributions of partners have actually been transmitted to the partnership.

Answer 3

TRUE it is otherwise stipulated. (1679))

Question 4

A partner is also bound for warranty in case of eviction with regard to specific and determinate things which he may have contributed to the partnership, in the same cases, and in the same manner as the vendor is bound with respect to the vendee.

Answer 4

TRUE

Question 5

The partnership shall be responsible to every partner for the amounts he may have disbursed on behalf of the partnership and for the corresponding interest, from the time the expenditures are made.

Answer 5

TRUE

Question 6

A partner who has undertaken to contribute a sum of money and fails to do so becomes a creditor for the interest and damages from the time he should have complied with his obligation.

Answer 6

FALSE ( DEBTOR) (1788)

Question 7

If a partner authorized to manage collects a demandable sum which was owed to him in his own name, from a person who owed the partnership another sum also demandable, the sum thus collected shall be applied to the two credits in proportion to their amounts, even though he may have given a receipt for his own credit only.

Answer 7

TRUE

Question 8

If there is no agreement to the contrary, in case of an imminent loss of the business of the partnership, any partner who refuses to contribute an additional share to the capital, except an industrial partner, to save the venture, shall be obliged to sell his interest to the other partners.

Answer 8

TRUE

Question 9

The losses and profits shall be distributed in conformity with the agreement. If only the share of each partner in the profits has been agreed upon, the share of each in the losses shall be in the same proportion.

Answer 9

TRUE

Question 10

A partner who has received, in whole or in part, his share of a partnership credit, when the other partners have not collected theirs, shall be obliged, if the debtor should thereafter become insolvent, to bring to the partnership capital what he received even though he may have given a receipt for his share only.

Answer 10

TRUE

Question 11

For any amount a partner may have taken from the partnership coffers, his liability shall begin from the time he converted the amount to his own use.

Answer 11

TRUE

Question 12

When an industrial partner engages in business for himself without express permission from the partnership, the capitalist partners may exclude him from the firm with a right to damages.

Answer 12

FALSE ( MAY EITHER EXCLUDE OR AVAIL THEMSELVES THE BENEFITS.)

Question 13

An industrial partner cannot engage in business for himself unless the partnership expressly permits him to do so.

Answer 13

TRUE

Question 14

A continuation of the business by the partners or such of them as habitually acted therein during the term, without any settlement or liquidation of the partnership affairs, is prima facie evidence of a continuation of the partnership.

Answer 14

TRUE

Question 15

The risk of indeterminate things, which are not fungible, 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.

Answer 15

FALSE ( PARTNERSHIP)

Question 16

List down five Obligations of Partners among themselves,

Answer 16

ARTICLE 1786 
ARTICLE 1787
ARTICLE 1788
 ARTICLE 1790 
ARTICLE 1793 -