Quiz 04 HM 321 TM 322

The owner is in command of the whole business and stands to lose as much as he puts in and even to the extent of all his personal belongings.

• Sole Proprietorship

• Partnership

• Corporation

• Cooperatives

By the contract of ---, two or more persons bind themselves to contribute to money, property, or industry to a common fund, with the intention of dividing the profits among themselves.

• Sole Proprietorship

• Partnership

• Corporation

• Cooperatives

Is an artificial being created by operation of law, having the right of succession and powers, attributes and properties expressly authorized by law or incident to its existence.

• Sole Proprietorship

• Partnership

• Corporation

• Cooperatives

Is a juridical necessity to give, to do, or not to do.

• Obligation

• Cooperation

• Contract

• Agreement

It is the meeting of the minds between two persons whereby one binds himself with respect to the others, to give something or to render some service.

• Contract

• Obligation

• Psychology

• Conspiracy

Partnership is --- in character.

• fiduciary

• consensual

• mutual

• symbolic

Every contract of partnership, having a capital of Php --- or more in money or property, shall appear in public instruments, which must be recorded in the Office of the ---.

• 3,000; Securities Exchange Commission

• 5,000; Local Government Unit

• 2,500; Bureau of Internal Revenue

• 3,500; Department of Trade and Industry

are those formed or organized for the government of a portion of the State.

• Public Corporation

• Private Corporation

• Quasi Public Corporation

• Sole Corporation

a cross between private corporations and public corporations.

(a)  

an obligation, which if not fulfilled when it becomes due and demandable, may be enforced in court through action.

• Civil Obligation

• Natural Obligation

• Moral Obligation

• Unilateral Obligation