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  • Quizzes 9 & 10

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    Lance Gallogo
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    The document discusses two quizzes taken as part of a Law 103 course. For quiz 9, it addresses why a partnership should avoid using successful company names to avoid misleading people. It also notes that allowing your name to be used in a firm name when you are not a partner makes you liable to creditors. For quiz 10, it discusses that while an industrial partner is not liable for partnership losses, they are still liable to third parties. It also notes that partners' liability to third parties is considered secondary because it is not part of the partnership's ordinary course of business.

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    QUIZZES 9 & 10.docx

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    The document discusses two quizzes taken as part of a Law 103 course. For quiz 9, it addresses why a partnership should avoid using successful company names to avoid misleading people. It also notes that allowing your name to be used in a firm name when you are not a partner makes you liable to creditors. For quiz 10, it discusses that while an industrial partner is not liable for partnership losses, they are still liable to third parties. It also notes that partners' liability to third parties is considered secondary because it is not part of the partnership's ordinary course of business.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    6 views1 page

    Quizzes 9 & 10

    Uploaded by

    Lance Gallogo
    The document discusses two quizzes taken as part of a Law 103 course. For quiz 9, it addresses why a partnership should avoid using successful company names to avoid misleading people. It also notes that allowing your name to be used in a firm name when you are not a partner makes you liable to creditors. For quiz 10, it discusses that while an industrial partner is not liable for partnership losses, they are still liable to third parties. It also notes that partners' liability to third parties is considered secondary because it is not part of the partnership's ordinary course of business.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    NAME: DARILL LANCE GALLOGO

    SUBJECT: LAW 103


    RE: QUIZ 9

    A. When choosing a firm name why should the partnership avoid the use of successful companies?

    ANSWER: In order not to mislead people.

    B. What is the consequence if you allow your name to be included in the firm name even if you are
    not one of the partners?

    ANSWER: You will be held liable to the creditors.

    *****NOTHING FOLLOWS*****

    NAME: DARILL LANCE GALLOGO


    SUBJECT: LAW 103
    RE: QUIZ 10

    A. Industrial partners shall not be liable for the loss of the partnership, why is he liable for liabilities
    to third persons?
    ANSWER: Be it on authority or in principle that the industrial partner is exempted paying the
    partnership’s debts on third person.

    B. What is the reason for recognizing the partners’ liability to third parties as just secondary.

    ANSWER: It’s because the partners’ liability to third parties is not the partnership’s ordinary course
    of business.

    *****NOTHING FOLLOWS*****

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