ACTIVITY# 1

BSSLAW 2 AAF
GRAGASIN JAEZAR PHILIP F. 20200500@s.ubaguio.edu
PARTNERSHIP

ANS # STATEMENTA AND CHOICES

A 1 A partnership begins from the moment of the execution
(Article of the contract, unless it is otherwise stipulated.
1784) A.
B.
C.
D.

B 2 When a partnership for a fixed term or particular

(Article undertaking is continued after the termination of such
1785) term or particular undertaking without any express
agreement, the rights and duties of the partners remain
the same as they were at such termination, so far as is
consistent with a partnership at will.
A.
B.
C.
D.

C 3 Every partner is a debtor of the partnership for

(Article whatever he may have promised to contribute thereto.
1786) A.
B.
C.
D.

D 4 When the capital or a part thereof which a partner is

(Article bound to contribute consists of goods, their appraisal
1787) must be made in the manner prescribed in the contract
of partnership, and in the absence of stipulation, it
shall be made by experts chosen by the partners, and
according to current prices, the subsequent changes
thereof being for account of the partnership.
 A.
B.
C.
D.

A 5 A partner who has undertaken to contribute a sum of

(Article money and fails to do so becomes a debtor for the
1788) interest and damages from the time he should have
complied with his obligation.
A.
B.
C.
D.

B 6 An industrial partner cannot engage in business for

(Article himself, unless the partnership expressly permits him
1789) to do so; and if he should do so, the capitalist partners
may either exclude him from the firm or avail
themselves of the benefits which he may have obtained
in violation of this provision, with a right to damages in
either case.
A.
B.
C.
D.

C (Article 7 Unless there is a stipulation to the contrary, the

1790) partners shall contribute equal shares to the capital of
the partnership.
A.
B.
C.
D.

D 8 If there is no agreement to the contrary, in case of an

(Article imminent loss of the business of the partnership, any
1791) partner who refuses to contribute an additional share to
the capital, except an industrial partner, to save the
venture, shall he obliged to sell his interest to the other
partners.
A.
 B.
C.
D.

A 9 If a partner authorized to manage collects a demandable

(Article sum which was owed to him in his own name, from a
1792) 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; but should he have given it for the account of the
partnership credit, the amount shall be fully applied to
the latter.
A.
B.
C.
D.

B 10 A partner who has received, in whole or in part, his

(Article share of a partnership credit, when the other partners
1793 ) 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 receipt for his share only.
A.
B.
C.
D.

C 11 Every partner is responsible to the partnership for

(Article damages suffered by it through his fault, and he cannot
1794) compensate them with the profits and benefits which he
may have earned for the partnership by his industry.
However, the courts may equitably lessen this
responsibility if through the partner's extraordinary efforts
in other activities of the partnership, unusual profits have
been realized.
A.
B.
C.
D.
D 12 The risk of specific and determinate things, which are
(Article not fungible, contributed to the partnership so that
1795) only their use and fruits may be for the common
benefit, shall be borne by the partner who owns them
A.
B.
C.
D.

A 13 The partnership shall be responsible to every partner for

(Article the amounts he may have disbursed on behalf of the
179) partnership and for the corresponding interest, from
the time the expense are made; it shall also answer to
each partner for the obligations he may have contracted
in good faith in the interest of the partnership business,
and for risks in consequence of its management.
A.
B.
C.
D.

B 14 The losses and profits shall be distributed in conformity

(Artice17 with the agreement. If only the share of each partner in the
97) profits has been agreed upon, the share of each in the
losses shall be in the same proportion.
A.
B.
C.
D.

C 15 If the partners have agreed to intrust to a third person

(Artice the designation of the share of each one in the profits and
1798) losses, such designation may be impugned only
when it is manifestly inequitable. In no case may a
partner who has begun to execute the decision of the
third person, or who has not impugned the same within
a period of three months from the time he had
knowledge thereof, complain of such decision.
A.
B.
C.
 D.
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D 16 A stipulation which excludes one or more partners from
(Artice17 any share in the profits or losses is void.
99 )
A 17 The partner who has been appointed manager in the
(Artic articles of partnership may execute all acts of
1800 ) administration despite the opposition of his partners,
unless he should act in bad faith; and his power is
irrevocable without just or lawful cause. The vote of the
partners representing the controlling interest shall be
necessary for such revocation of power.
A.
B.
C.
D.

B 18 If two or more partners have been intrusted with the

(Article management of the partnership without specification of
1801) their respective duties, or without a stipulation that
one of them shall not act without the consent of all the
others, each one may separately execute all acts of
administration, but if any of them should oppose the
acts of the others, the decision of the majority shall
prevail. In case of a tie, the matter shall be decided by
the partners owning the controlling interest.
A.
B.
C.
D.

C 19 In case it should have been stipulated that none of the

(Article managing partners shall act without the consent of the
1802) others, the concurrence of all shall be necessary for the
validity of the acts, and the absence or disability of any A
one of them cannot be alleged, unless there is imminent
danger of grave or irreparable injury to the partnership.
A.
B.
C.
D.
D 20 When the manner of management has not been agreed
(Article upon, the following rules shall be observed:
1803 ) (1) All the partners shall be considered agents and
whatever any one of them may do alone shall bind the
partnership, without prejudice to the provisions of
Article 1801.
A.
B.
C.
D.

A 21 Every partner may associate another person with him

(Article in his share, but the associate shall not be admitted
1804) into the partnership without the consent of all the
other partners, even if the partner having an associate
should be a manager.
A.
B.
C.
D.

B 22 The partnership books shall be kept, subject to any

(Article agreement between the partners, at the principal place of
1805) business of the partnership, and every partner shall at any
reasonable hour have access to and may inspect and copy
any of them.
tA.
B.
C.
D.
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C 23 Partners shall render on demand true and full information
(Article of all things affecting the partnership to any partner or the
1806 ) legal representative of any deceased partner or of any
partner under legal disability.
A.
B.
C.
D.

D 24 Every partner must account to the partnership for any

(Article benefit, and hold as trustee for it any profits derived by him
1807) without the consent of the other partners from any
transaction connected with the formation, conduct, or
liquidation of the partnership or from any use by him of its
property.
A.
B.
C.
D.

A 25 The capitalist partners cannot engage for their own

(Article account in any operation which is of the kind of business in
1808) which the partnership is engaged, unless there is a
stipulation to the contrary.
A.
B.
C.
D.

B 26 Any partner shall have the right to a formal account as to

(Article partnership affairs: (1) If he is wrongfully excluded from the
1809) partnership business or possession of its property by his
copartners; (2) If the right exists under the terms of any
agreement; (3) As provided by article 1807; (4) Whenever
other circumstances render it just and reasonable.
A.
B.
C.
D.

C 27 The property rights of a partner are:

(Article (1) His rights in specific partnership property;
1810 ) (2) His interest in the partnership; and
(3) His right to participate in the management.
A.
B.
C.
D.

D 28 A partner is co-owner with his partners of specific

(Article partnership property.
1811) The incidents of this co-ownership are such that:
(1) A partner, subject to the provisions of this Title and
 to any agreement between the partners, has an equal
right with his partners to possess specific partnership
property for partnership purposes; but he has no right
to possess such property for any other purpose without
the consent of his partners;
(2) A partner's right in specific partnership property is
not assignable except in connection with the
assignment of rights of all the partners in the same
property;
(3) A partner's right in specific partnership property is
not subject to attachment or execution, except on a
claim against the partnership. When partnership
property is attached for a partnership debt the
partners, or any of them, or the representatives of a
deceased partner, cannot claim any right under the
homestead or exemption laws;
(4) A partner's right in specific partnership property is
not subject to legal support under Article 291.
A.
B.
C.
D.

A 29 A partner's interest in the partnership is his share of

(Article the profits and surplus.
1812) A.
B.
C.
D.

30 A conveyance by a partner of his whole interest in the

(Article partnership does not of itself dissolve the partnership,
1813 ) or, as against the other partners in the absence of
agreement, entitle the assignee, during the continuance
of the partnership, to interfere in the management or
administration of the partnership business or affairs, or
to require any information or account of partnership
transactions, or to inspect the partnership books; but it
merely entitles the assignee to receive in accordance
with his contract the profits to which the assigning
partner would otherwise be entitled. However, in case of
fraud in the management of the partnership, the
 assignee may avail himself of the usual remedies.
A.
B.
C.
D.

31 Without prejudice to the preferred rights of partnership

(Article creditors under Article 1827, on due application to a
1814) competent court by any judgment creditor of a partner, the
court which entered the judgment, or any other court, may
charge the interest of the debtor partner with payment of
the unsatisfied amount of such judgment debt with interest
thereon; and may then or later appoint a receiver of his
share of the profits, and of any other money due or to fall
due to him in respect of the partnership, and make all
other orders, directions, accounts and inquiries which the
debtor partner might have made, or which the
circumstances of the case may require.
A.
B.
C.
D.

32 Every partnership shall operate under a firm name, which

(Article may or may not include the name of one or more of the
185) partners. Those who, not being members of the
partnership, include their names in the firm name, shall be
subject to the liability of a partner.
A.
B.
C.
D.

33 All partners, including industrial ones, shall be liable pro

(Article rata with all their property and after all the partnership
1816) assets have been exhausted, for the contracts which may
be entered into in the name and for the account of the
partnership, under its signature and by a person
authorized to act for the partnership. However, any partner
 may enter into a separate obligation to perform a
partnership contract.
A.
B.
C.
D.

Art. 1817. Any stipulation against the liability laid down in

the preceding article shall be void, except as among the
partner.
A.
B.
C.
(Article D.
1817)

34 Every partner is an agent of the partnership for the

(Article purpose of its business, and the act of every partner,
1818) including the execution in the partnership name of any
instrument, for apparently carrying on in the usual way the
business of the partnership of which he is a member binds
the partnership, unless the partner so acting hasuin fact no
authority to act for the partnership in the particular matter,
and the person with whom he is dealing has knowledge of
the fact that he has no such authority.
A.
B.
C.
D.

35 Where title to real property is in the partnership name, any

(Article partner may convey title to such property by a conveyance
1819) executed in the partnership name; but the partnership may
recover such property unless the partner's act binds the
partnership under the provisions of the first paragraph of
article 1818, or unless such property has been conveyed
 by the grantee or a person claiming through such grantee
to a holder for value without knowledge that the partner, in
making the conveyance, has exceeded his authority.
A.
B.
C.
D.

36 An admission or representation made by any partner

(Article concerning partnership affairs within the scope of his
1820) authority in accordance with this Title is evidence against
the partnership.
A.
B.
C.
D.

37 Notice to any partner of any matter relating to partnership

(Article affairs, and the knowledge of the partner acting in the
1821) particular matter, acquired while a partner or then present
to his mind, and the knowledge of any other partner who
reasonably could and should have communicated it to the
acting partner, operate as notice to or knowledge of the
partnership, except in the case of fraud on the partnership,
committed by or with the consent of that partner.
A.
B.
C.
D.

38 Where, by any wrongful act or omission of any partner

(Article acting in the ordinary course of the business of the
1822) partnership or with the authority of co-partners, loss or
injury is caused to any person, not being a partner in the
partnership, or any penalty is incurred, the partnership is
liable therefor to the same extent as the partner so acting
or omitting to act.
A.
B.
C.
 D.

39 The partnership is bound to make good the loss:

(Article A.
1823) B.
C.
D.

40 All partners are liable solidarily with the partnership for

(Article everything chargeable to the partnership under Articles
1824) 1822 and 1823.
A.
B.
C.
D.

41 When a person, by words spoken or written or by conduct,

(Article represents himself, or consents to another representing
1825) him to anyone, as a partner in an existing partnership or
with one or more persons not actual partners, he is liable
to any such persons to whom such representation has
been made, who has, on the faith of such representation,
given credit to the actual or apparent partnership, and if he
has made such representation or consented to its being
made in a public manner he is liable to such person,
whether the representation has or has not been made or
communicated to such person so giving credit by or with
the knowledge of the apparent partner making the
representation or consenting to its being made:
A.
B.
C.
D.

42 A person admitted as a partner into an existing partnership

(Article is liable for all the obligations of the partnership arising
1826) before his admission as though he5had been a partner
when such obligations were incurred, except that this
liability shall be satisfied only out of partnership property,
 unless there is a stipulation to the contrary.
A.
B.
C.
D.

43 The creditors of the partnership shall be preferred to those

(Article of each partner as regards the partnership property.
1827) Without prejudice to this right, the private creditors of each
partner may ask the attachment and public sale of the
share of the latter in the partnership assets.
A.
B.
C.
D.