The following except one, are the legal characteristic of partnership.

Which is the
exception? (Phil CPA, 94-1)

The partners are liable pro-rata for the contractual liabilities of the partnership.

There is mutual agency among partners.

It has juridical personality separate and distinct from the partners.ou Answered

All the partners are liable after exhaustion of partnership assets to the extent of their
personal property.

Which of the following is a characteristic of partnership as a contract? (Phil CPA,

94-2)

Innominate

Gratuitous

Formalect!

Preparatory

Ralph and Vi orally agreed to form a partnership. Each contributed cash and
personal properties worth P10,000 to a common fund. But they did not register the
partnership with the Securities and Exchange Commission (SEC). (Phil CPA, 93-1)

The partnership is voidable

The partnership is void.

The partnership is unenforceable.rrect!

The partnership is still valid.