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Partnership: Quiz 5

Authored by Reign Dela Cruz

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University

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Partnership: Quiz 5
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23 questions

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1.

FILL IN THE BLANK QUESTION

1 min • 1 pt

A firm name is necessary to distinguish the partnership which has a distinct and separate juridical personality

2.

FILL IN THE BLANK QUESTION

1 min • 1 pt

A partnership cannot continue to use in its firm name the names of deceased partners, unless the firm indicates in all its communication that the said partner is deceased.

3.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Persons who, not being partners, include their names in the firm name do not acquire the rights of a partner, but subject to liability of a partner insofar as 3rd persons without notice are concerned.

4.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Admission by a party as testified to by a 3rd person are not admissible in evidence against him in litigation

5.

FILL IN THE BLANK QUESTION

1 min • 1 pt

As a general rule, the particular partner who undertakes to bind his co-partners by a contract without authority is not personally liable on such contract.

6.

MULTIPLE SELECT QUESTION

30 sec • Ungraded

Three groups of acts of partners in Article 1818 as to the liability of partnership for acts of partners

Acts for apparently carrying on in the usual way the business of the partnership

Acts to confess a judgement

Acts of strict, dominion or ownership

Acts in contravention of a restriction on authority

Acts to dispose of the goodwill of the business

7.

FILL IN THE BLANK QUESTION

1 min • 1 pt

As a general, notice to any partner of any matter relating to partnership affairs, and the knowledge of the partner acting in the 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.

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