Activity 1 Law on Partnership

Quiz
•
Financial Education
•
University
•
Hard
Marvin Cabantac
Used 9+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What was the outcome in the case of Jaime Sahot when his employer claimed he was an industrial partner?
Jaime was proven to be an industrial partner
The court rejected the defense of industrial partnership
Jaime received compensation as an employee
The employer was required to pay separation pay
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
According to the case of Duco vs.Lazo, what is the significance of sharing gross returns in establishing a partnership?
It automatically proves the existence of a partnership
It is irrelevant in determining a partnership
It is a requirement to establish partnership
It is a sufficient condition for partnership
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
According to the text, what is the best evidence to prove the existence of a partnership?
Receipt of a share of profits
Sharing of gross returns
Oral agreement between parties
Contract or articles of partnership
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the case of Negre v. Workmen's Compensation Commission, what was Jose Negre's assertion to avoid payment of death benefits?
He was an industrial partner
He was a joint venture with the crew members
His crew members were his employees
He had a profit-sharing agreement with the crew
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If a person receives wages in an employment relationship, what inference is drawn according to the case?
The person automatically becomes a partner in the business
The person is not considered an employee
The person is a partner in a separate business
The person might be an employee and not a partner
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How can the existence of a partnership be proven in the absence of a contract or articles of partnership?
By the receipt of a share of profits of a business
By only providing circumstantial evidence
By showing that an agreement was not required
By submitting a public instrument
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one of the main criteria to establish the existence of a partnership as defined in the text?
An agreement in writing is required to establish a partnership
Sharing of gross returns is sufficient to establish a partnership
Contribution of money, property, or industry to a common fund with the intention of dividing profits
Dividing profits among a large group of individuals
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