Elements and Kinds

1. May be required to make additional contribution in case of imminent loss:

Capitalist partner
2. Partner who winds up the affairs of the firm after it has been dissolved
Liquidating
3. May be required to make additional contribution in case of imminent loss:
Capitalist partner
4. May contributed money, property or industry to the common fund
General partner
5. May contribute money, property or industry to a common fund.
General partner
6. Partner who manage actively the firm's affairs
Managing
7. Partner whose connection with the firm is concealed or kept a secret
Secret
8. Partner who is liable beyond the extent of his contribution
General
9. Partner who is both a secret and silent partner
Dormant
10. 1st Statement - A corporation cannot enter into a partnership contract with natural
person but with a juridical person it can.
2nd Statement - A general partner is always the capitalist in a limited partnership.
Both statements are false
11. Partner who does not participate in the management though he shares in the profits or
losses
Silent
12. The following are instances, except one, when a partnership is unlawful. Which is the
exception?

A partnership formed for the purpose of buying lands.

13. Partner who is not really a partner but who may become liable as such insofar as third
persons are concerned
Ostensible
14. A partner in a partnership who is not really a partner not being a party to the partnership
agreement but is made liable as a partner for the protection of innocent third persons is
known as:

Partner by estoppel
15. Partner who is liable only to the extent of his contribution
Limited
16. Partner whose connection with the firm is known to the public
Ostensible
17. 1st Statement - F was a bookkeeper in a partnership named "GH", with a yearly salary
amounting to 5% of the net profits for the year. F, however had no vote at all in the
 management of the business. He is a partner in GH.
2nd Statement - Unless there is a stipulation to the contrary, the partners shall contribute
equal shares to the capital of the partnership.

only statement 2 is true

18. The following are disqualified to form a universal partnership, except one:
Brother and sister
19. Partner who contributes both capital and industry
Capitalist-industrial
20.