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Activity 1 Law on Partnership

Authored by Marvin Cabantac

Financial Education

University

Used 9+ times

Activity 1 Law on Partnership
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10 questions

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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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