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T ~i>+l't'C State l !

n1vcrs1ty

<'o lkgl' of 13 us1nl'ss and Acco untancy


lntrgration - RFBT Midtrrm Examination
SY :n J9- 21120

Rex, a bright young star With a golden touch and Da rryl , a pastorwho lectur.: s
with a mel odious voice entered mto a universal partnershipof all present property. The common property of
the partnership shall be
a A 11 th e propert 1es which belonged to each of the partners at the time of the constitution of the partnership
b All the properties which shall belong to each of the partnersafter the constitution of the partnership.
c.All th e properties which bel onged to each of the partners at th e time of the cons titution of th e
r artnership as well as properti eswhich each may acquire thereafter
d All th e properties which belong ed to each of the partners atthe tim e of the constituti on of th e
pa rtnership as well as the profitswhaich they may acquire therewith
On September 21, 20 10. Piolo agreed to sell his only carabao to Sam and Sam agreed to pay the price of P25.000
if~ Sarn ·w·ill pas:, U1~ October ~0 ]0 CPA Exani ination. The list of succcs;.;fuJ exam inees vvas released on October
21 , 2n IO and Sam is one of those who passed the exam mati on. As a result,
a. Piolo 1s enl!tled to the P25,000 price plus interest beginning September 2L 2010.
b Sam is entitled to the carabao and its fruits beginning September 2L 2010.
c. Sam is entitled to the carabao beginning September 21, 2010 and to its fruit s beginning October 21, 2010
d. Piolo shall deliver the fruits of the carabao and Sam shall pay the iiitcrcst on the price bcgu-uiir,g Scptcmbcr
2L 20 1U.
3. A, B. and C owe W. X Y, and Z the sum of Pl20,000 lf the obl igation is due, which of the fo llowing 1s not
correct ?
a A is Li ab le only for a total of P40.000.
b. '-.-\' caJ1 only coll~ct Pl0,000 fron1 C
c. B can be required to pay P40,000 to any of the creditors
d. Y can only collect a total of P30,000
4. The following pertains to facultative obligations. except.
a Comprehends only one object or prestation which is due
b Choice pertains only to the debtor
c. Fortuitous loss of all prestations will extinguish the obligation
d. Not given.
S SI . The debtor shall lose the right to make use of the period when he does not furnish any guaranty or security to
the credi tor
S2 : L, an obligation subj ect to a suspensive period, ¼that is suspended is birth of the obligation.
a. True;true b. true;false c. false;false d. falseJrue
G \\ nich of the fo llowing is not a generic obligati on?
a. Obligation to pay P l ,000,000
b. Obligati on to deliver 1999 Nissan Sentra Series III
c Obligation to deliver 50 cavans of rice
d. Obligation to give a delimited generic ob ject
7 --1 will give you my car provided that if I like to have it back, you will return the same to me."
a. The obligation is void, because the fulfillment depends upon the will of the debtor.
b. The obligation is void, because the fulfillmt:nt depends upon the will of the creditor.
c The obligation is va lid because tJ1c condition merely causes the loss of rights already acquired.
d Both A and B.
8 S 1. Dog obliged rum self to give Cat a specific car tom orrow . If Dog failed to deliver tomorrow after demand is
made, Cat may compel Dog to do his obligation and may ask for damages.
S2 : Dama obliged to deliver a car to Captain Barbel tomorrow. If Dama failed to deliver tomorrow after demand
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damages
a. Both statement-:; are true.
b Both statemenL'i are false .
c. Stat ement I 1s true whi le statement 2 is false .
d ~tat~n,~ nt 1 i:,; f?J f3~ vvhil~ statcn1cnt l is tn.h.: .
9 Wh ich of the /'o llowmg 1s not a conditi ona l obligation?
a. I ) lo g1 vc C' PI ,!JU() 1rC passes the exam inat1on.
b I) to pay C P I UUU 1r he has the means.
'

/ [; to give Ca horse if C marries X.


✓ :i· Dis to usl' c ·s car unttl C returns from Davao
]ll AB and Care solidary debtors of X and Y. sol idary crl'Jitors, for PG0,000 X makes a demand to A hut the laUcr

r aid Y In here. the obligation is not e>.tinguished


A and B solidary debtors of X. Y and 7,_ sol1dary creditors. X demands payment from A, hut B, upon whom no
demand 1s mad.: paid Z th.: entire obligation ln here. the ohligation is totally e;_1mgu1shed.
a Truc:truc b trueJalse c. fa lseJalse d. false:truc
11. El mo is obliged to give Bert, either a ring worth PS.000: or bracelet worth P4,500: or a watch worth P4JJ()() All
the ob_1 ects were lost due to Elmo's fault in the order stated.
a. Elmo's obligation is extinguished.
b. Elmo ·s obligation iS to pay the value of the ring plus damages.
c Bert 's right is to demand the value of any of the objects plus damages.
d. Elm o·s obligation is to pay the value of the watch plus dam ages.
1'2 . Culpa aquiliana as distinguished from culpa contractual:
a. Proof of due diligence in the selecti on and supervision of employees is not considered a defense.
b. Proof of the contract and its breach is sufficient to vvarrant recovery.
c. The negligence of the defendant is only an incident in the performance of the obligation.
cl. The source of liability JS the negligent act of the person causing damage to another.
13 S 1· When one of the parties has brought an action to enforce the contract, he cannot subsequently ask for its
rdonn ation.
S~ : The inj ured party n1ay s~ck rescission even after h~ has chosen the fulfillment of the obligation if the latter
should become impossible.
a. True: true b. trueJalse c. falseJalse d. false:true
14. S 1: An oral sale of land made by its owner is unenforceable.
S2 . Sale of land made by an agent without written authority from owner thereof is void.
a. b. falsc:truc
15 S 1:The principle of autonom y of contracts means that the contracting parties as a rul e may agree upon any
stipulation. clause. tem1 and condition.
S2: Relativity of contracts means that contracts take effect not only between the parties but also their heirs and
assigns.
a. Falsc:falsc c. falsc:tn1c
16 Liability for damages arising from fraud is demandable and there can be a waiver of an acti on for past fraud.
There can be a waiver of an action for future negligence but not fraud .
a. Both statements are false c. First is true, second is false
b. Both are true d. Second is true, first is false
17. Delia borro·wcd from Celia a stun of n1oncy ":ith a stipulated rate of interest to b~ paid j.J1 tr'ucc equal montJ1ly
installm ents from January to March. Delia paid an amount for which the latter issue a receipt stating that the
payment JS for the month ofFebruary. In this case,
a. The installment for the month of March is also considered paid.
b. The installment for the month of January is conclusively presumed to have been paid.
c. The installrn cnt for the montli of January ls distributably prcstuncd paid.
d. The installment for the month of January is not presumed paid.
18. A obliged him self to deliver the cans of powdered milk of B from his warehouse in Pangasinan to Manila. While
his truck was traveling on the North expressway, it was hi-jacked by a band of robber who also took the cans of
milk belonging to B. Is A liable for the loss of the goods•)
a. t~o~because they ~VY·crc generic th~t gs and as tlicy caru1ot be lost.
b. Yes, because he was in possession of the same at the time of the loss and therefore presumed at fault .
c. Yes, because there was no stipulation exempting him from loss in case of fortuitous event.
cl. No. because the loss was due to fortuitous event.
19 A, Band C bound them selves to deliver to X a specific car worth P3M. Due to the fault of A, the car was lost In
thi::; case
a.X can claim damages from any one of the three for his proportionate part of liability because the obligation is
indivisible /
b. X can claim only from A the whole amount of damages other than the value of the car.
c Smee 1t ts solidary liabilities for damages, X can claim the same from any of the thret·.
J Only A is liable for damages although Band C arc liable for their rcsncetivc
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20 lJcnni s owes Cart Pl M Xanabelle, without the k'nowledge or against the will of] )cnnis patd ...Catt P2M
Xanabdlc gd reimbursement from Dennis?
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b PIM only for that is the e11.tent of benefit of Dennis
c. No reimbursem ent because the payment was not proper being without the knowledge or against the will of
Dennis
d. PIM plus mtcrcst from the time of pa11ncnt until rcim burscn,cnt
: I Payment made by a third person 1s valid to e>-.tinguish the obligation of the debtor to the creditor in the fo llow ing
cases, except
a. After payment to the creditor, the third person acquires the creditor's right
b When the creditor ratifies the payment to the third person
c. \.\'hen tr'uough th~ crcdito(s conduct. the debtor Vv·as led to believe that the L½ird person had authority to
receive payment
cl. When the third person is subrogated to the rights of the creditor.
:2 Sister offered his car to Brother for PIM and giving the latter one week to decide. Brother in tum gave Sister
P 1,000. In this case, there is
a. Contract of sa l~ of the car \~·ith tJ1c P1,000 as earnest money
b. Contract of option with the P 1,000 as opti on money
c. Contract to sell of the car at B's option
d. Contract to sell of the car at S's option
Anm ony advertised in the newspaper his parcel of land wanting to sell the same for PIM. Boy personally went to
th-: forn1-:r w· ith cash in hand to buy the subject parcel of land. In this case,
a. Anmony cannot anymore reject Boy as buyer of his land
b. Anmony can still reject Boy as an offered in the purchase of land
c. Anm ony can reject the offer of Boy unless he properly consigns with the court his payment for the land
d. Anm ony cannot evade his obligation as seller to Boy
2-4. ThL-contract entered into by the pLrsons ;;·ho caru1ot give consent is
a. Void ab initio because actually there is no consent
b. Unenforceable only because the contract may be ratified
c. Rescissible because of the dam age caused to the person incapacitated
d. Voidable as there is consent although vitiated or defective
2.5 . The follovvii1g even if not in public instn.irncnt arc valid, bindir1g and crJorccablc except
a. Negotiable instruments
b. Sale of land, either by the owner or agent with written authority
c. Agency, pledge, mortgage
d. Partnership contract wherein immovables are contributed
:6. .4guilar sold to Bcddic his dog v~·ith th.c agrccn1cnt t.11.at dcliYcry shall be after one \.Yeck from sale and the pa)Tiicnt
of the price after two weeks from delivery. If the dog shall produce offspring, it shall belong to:
a. If produced before the sale, it shall pertain to the seller
b. If the puppy shall exist before the actual delivery, it shall pertain to the seller
c. The fruits that shall exist after delivery will only be the ones to pertain to the buyer
d. The fru its after the sale but before del ivery shall pertain to th~ buyer if so stipulatLd by th~ parties to the sale
27. A owes B P20.000 which became due and payable last June 23, : 010. On that date, A offered B Pl0,000, the only
money he then had, but B refused to accept the payment. A, thereafter met C, B's 23 year old son, to whom he
gave the P l 0,000 with the request that he tum the money over to B. The money was stolen while C's possession.
How much may B still recover from A?
o. C. Pl 5,000

d. Pl 0,000 d. P-0-
28. If a third person pays an obligation. What are the rights, which are available to him if he pays the obligation with
the knowledge and consent of the debtor?
I st answer - He can recover from the debtor the entire amount, which he has paid.
2nd answer He subrogated to all of the rights of the creditor.
a. Both answers are correct. c. Onlv the first is correct.
b. Both answers are wrong. d. Only the second is correct.
29. A, as agent of P with oral authority, sold P's land in public instrum ent. The sale is
a. R.::sciss1ble b. voidable c. unenforceable d. Void
3U Culpa aqu diana a::; distingW sh~d from cu!pa contractual
a Proof of due diligence in the selection and supervision of employees is not available as a defense
b Proof of the contract and of its breach is sufficient prim a facie to warrant recovery
c The negligence of the defendant is merely an incident in the perfonnance of the obligation
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31 A passenger on a truck was hurt but ma criminal case against the dnver. saiJ dnv er was acquitted. The v1ct1m
now sues the owner of the truck for cu !pa co ntractual May the suit stil I prosper?
a No. this will constitute double jeopardy
b. No. the acquittal means that the guilt of the accused was not proven by proof beyond reasonabl e doubt
c. Ycs, it is sufficient for him to prove t\c cx1stcncc of th.: contract of carriage and the injuries suff..:rcd
d Yes. prov idecl he can prove the negligence of the driv er
3~ If the obligor binds him self to perfom1 his obligation .. as soon as he shall have obtained a loan" from a certam
bank. This obligation is
a. With a krm c. with a peri od
1
b. \ /iLl-i a suspensiv e condttion d. ~v1ith a rcsolutory condition
33 . An acti on to impugn the acts of a debtor intended to defraud the creditor is
a Accion reivindicatoria c. accion redhibitoria
b. Acc ion subrogatoria d. accion pauliana
34. A owes B Pl 1,000 due on July 2, 2010. Bowes A P6,000 due on July 3. 2010 and P4,000 due on July 10, 20 10. B
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against A, without the knowledge of A On July I 0, 20 10 C tri es to collect from A the P l 1,000. How much can C
compel A to pay?
a. Pl LOOO C. PS,000

b. P9,000 d. PLOOO
35 . There is novation of t.a'ic obligation if
I. The penod for payment is shortened from 5 years to 3 years.
,. , The period for paym ent is extended fonn 3 years to 5 years.
a. True: true b. trueJalse c. falseJrue d. false;fal se
36. This contract is without effect unless ratified
a. c. Contract of sale bctVv·ccn a guardian and his ward
b. Contract of sale between two insane persons d. Donation between husband and wife
37. A contract as a rule must be in writing to be valid.
A taxpayer is not entitled to interest in the overpayment of tax subject of a refund because an obligation derived
from law is not presumed.
a. Bot'i statc1ncnt s arc tnJc c. Fir3t is false, second is true
b. Both are fal se d. Second is false, first is true
38 SI : As a general rule. the e>-.'trajudicial expenses required by the payment shall be for the account of the creditor.
S2: If there is no stipulation and the thing to be delivered is specific, the place of payment shall be the domicile of
the debtor.
a. Tn..1c_tn.1c b. tn.1c:falsc c. fa1sc ~tn.1c d. fa1scJalsc
39 SJ· Consignation without tender of payment is sufficient if two or more persons claim the same right to collect.
S2 \Vhen the debt of a thing certain proceeds from a criminal offense, the debtor shall be exempted from the
payment of the price of the thing is lost through a fortuitous event.
a. Both statements are true.

c. SI is true; S2 1s false.
d. S1 is fal se; S2 1s true.
40. S I: The party may recover, if public interest will be subserved, money or property delivered by him for an illegal
purpose, provided that he repud iates the contract before the purpose has been accomplished
S2 · If an illegal contract constitute a cri in iJ1al offcnsc and boL1. parties arc guilty, bot½. shall be er ~m ~nally
prosecuted but they may keep the object of the contract.
a. True;true b. trueJalse c. fal se;false d. false;true
41 The meeting of minds manifests consent after the acceptance upon the thing and the cause which are to constitute
the contract. Which of the foll owing constitute a definite offer?
a. A.it offer made through an agent.
b. Business advertisements of things for sale.
c. Advertisements for bidders
d None of the above .
42. S 1: lf the cause is not stated in the contract it is presw11 ed that it is lawful.
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obtain reparation for damages suffered.


a. Both arc true c. Only Ist is true
b 130th arc false d. Only I st if false
/4;,r'sfault in real ob ligation is calkJ

,/ a.
Mora acc1riendi
b
Mora solvemli ex-re
c
Mora solvendi ex-persona
d.
Compensation-m orac
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S2 ln a partnership, juridical personality comm ences from the execution of the articles of the partnership; in a
corporation, from the issuance of certificate of incorporation by the Securities and Exchange Comm 1ss10n.
a True; True b. True, False c. False; False d. False, True
45 The minimum capital in money or property except when immovable property or real right:; thereto are
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contn • ...i ,i.uiat \ :Vi· 11u require t,,c
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Securities and Exchange Comm ission(SEC).


a. PS,000 00 b. P3.000.00 c. PJ,00 1.00 d. PIO,0<YJ00
46. If the partnership has the minimWTI capital mentioned in No. 29, but the contract is not in a public instrument or
the same is not recorded with SEC, the partnership:
a. Is voidable
b. Is void
c Still acquires juridical personality
d. Does not acquire juridical personality
47. Three of the following contracts are void Which one is not?
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b. A universal partnership of profits between a man and a woman living together as husband and wife without the
benefit of marriage
c. A particular partnership between husband and wife
d. A umversal partnership of profits between a private individual and a public officer
48. PartnLrs Arnold, Ben and Charlie contributed: Arnold-P1 ~000,000 ~ Bcn-P2,000,000~ ai1d Charlie-service. After
exhausting the partnership assets, the creditors still have a claim for P300,000. For how much are the partners liable to
the creditors for the partnership liability?
a. Only Arnold and Ben are liable equally to the creditors being capitalists
b. Only Arnold and Ben are liable at 1/3 and 2/3, respectively
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d Charlie is not liable being an industrial partner who is exempt from losses
49. Armando and Betty are co-owners of a parcel of land from which they derive profits in equal sharing being co-heirs in
inheritance. Is there a partnership?
a. There is a partnership because of the equal sharing of profits
b. There is no partnership because co-o~"vncrsl1ip by itself docs not establish a partnership d~spitc the sharii1g of
profits
c. There 1s no partnership since in partnership division of profits is not always necessary among partners
d There is partnership they being co-owners and co-possessors
50 Nonn elita and Gracia are partners in NG Partnership While Nonn elita was perfom1 ing her duties as a partner in the
conduct of the businw::;~ he negligently caused daniagc to Eddie, a third person. \'/ ho shall be liable to Eddi~ rutd lJt
what capacity?
a. Only the partnership shall be liable it being a jund.ical person separate and distinct from the partners
b. Only Nonnelita shall be liable for she is the only one at fault
c. Both Norn1elita and Gracia shall be liable solidarily to Eddie
d. i'.Jomicbta, Gracia and the partncrsrJp arc a11 liablc solidarily to Eddie
51 . 1fay contribute money, property or industry to a comm on fund
a Both general and limited partners
b. Limited partners
C. General partners
rl
v . Cnpitnlist partners
5:2. Petalcorin is indebted for PS,000 to JDS Trading Company, a partnership managed by Dulzura to whom Petalcorin
also owes P W,UUU.UU l he two deblc; wtuch are both demanctable are unsecurecl. Petalconn re1111ts P4,)UU.UU to
Dulzura m payment of his debt to her. Accordingly, Dulzura issues a receipt for her own credit. To which credit
should the payment be applied?
a To Dulzura·s credit because the payment made by Petalcorin is intended for his debt to Dulzu.ra who issues her
own receipt.
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C lo Dulzura's credit because its amount is greater than that of the partnership credit.
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partnership ul( man;1g1ng rarL,-:r :-;hould ih)l jli-:kr h-:r ow n mt-:r..:st t,) th;1t or th-:
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lor~g x , -10.!HHl !HJ 1.-,1 I · ·111· · J • · I · ·
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h r· r 1505-: in L ~- buying ~n I .. ,II. f 'h
~3r may engage in th ~b . .., ~• .,~ "' ng 0 1 nc..: .,._. ;t out th.: con:,..:nt or th..: oth..:r partn-:rs
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r, ar IS not liable for h . . c uym~an<l sellmo t· ·
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0 nee Wit out till' consent or the other partners
J Earl I t e losses ot th\.' partnership
..:; 1 . ,, may )e held liable b .- third , . . .
. -1 J\1AR1LEN C'om , . ) persons tor partnash1p debts with her separate propaty
pany JS owned bv th · rO11 •· , · ·
~_\nna, P20, ():_fl .lJ()· R~--~ n 1 ,.
,
t °'~ mg partners with
. . ,,~..,, 1 ..1" ()(;() l~) · T-.., ~ n .-ir11,1·,ri ').') 1
1
- their respective contrihut1on'>· Mary, [)](l !HXJ ()IJ.
n,. ( ,
1-:.xc,~pt
· " t'c)r Edna ancI Nora I.,. I h . """•· '"""·'',. ,. '. _;,:a, '.11)· JOO _()()·• l·dna , , P]IJ'!l.()()() (•(• ~ - -1 1- iu~" 1n1 J11 ()(l( J
, ,. "' ,u , , , " · _ •
to bu\' goods f E. I , a t e rest
· arc m-mag ·r · with t 1·· ·
' _ L s · ou any spect 1cat1on as to their respective duties Mary wants
- ~ · ram ~xce lent Companv 1 ·
a The l!rou) of . . , _iza opposes '
. \nn
a an J Rose side with . Mary wh1k . frma sides with Liza
h Th ~ r , ~ary will prev,11 [ because they con<;t1tute the ma1ority
c -r t..,e group of, l ' 1za will pre\, 81 J becausc th ey con:-11tuk the controlling · interest
s 1 u~ grom, o' ~ A"~ ~ - ••• :11 ·~ ... · 1 1...
r l .~icuy
1
" 11 1
h ·
~,r\.,vai u..:cau:;-: t ,..:y con;;titut..: th..: contmllmg interest.
d. upposc Rose abstains, the group of 1'-fary will prcrn1l
SS ;~ person adm llted to all the rights of a limited partner who has <lied or has assigned his interest in the partnership 1s
"--IH)Wn as

a An ,)stensible partner
i.,
LI

c. A substituted Jim ited partner


d. ..\ gcneral-li.1111ted partner
."o \\nich 1s the least defrct1ve contract'1
a. resciss1ble contract c unenforceable contract
b d voirl r.ontr~1ct
\·oidabli:> t:'ontnir.t
_..:; 7 ~ aJ:?~o~te~ A as his a~ent o:~!ly
to sell his pared of land for PI U/fJO. Five days after. A sold to B the pared of land
ror t'~.Ul11.! oy means or a puo11c ms1rumem executed oetween A. anci B \.v-nac 1s tne effect and status or sak occween
...\ and B-:'
a. the sale is valid because It was executed ma public im,1rument
b the sale JS unenforceable because the agent acted beyond the scope of his authority for sell mg the land for
1 ... ~,... t-1-.-- +\.. ... - - ~ ... ~- ........ , ,,. .. .,. ,...1
1~ :).:> LJ 1Cll:l L...J l'-.. }-Jll\.,\.. LJ l.')U U\,.,l\...U

c. the sale is \'oid becau::;e the appointm ent of the agent is oral
d. the sale can be rat1!"1ed although the appointment of A 1s oral, because the sak by A to B 1s in a public
mstrurnent
58 A B. and C borrowed from D P300,UUO. and as a security. they mortgaged their und1v1ded agnculturnl land to I)
Subse4uently. A paid DP ]()()JH)') Is the mortgage on A" s share of the land ext1ngu1shed'.'
a. yes. hecau.c;e the ohl1gat1on or r\ on the debt 1s only PJ(XJ.Om
h \·es. the oh! iQat 10n of the dehtors 1s 1omt t\ 1s ::ins\1h:rnhl,~ nnlv for P1I lO 01 )()
c ~o. because the obligation 1s sol1d;f)'. payment m part shall -not extinguish the obligat1on &:cured hy the
mortgage
d no. becaw;e mortgages are con-;1dered 1mlms1ble payment m part shall not extinguish the mortgage
~9 ,\ anJ B are oartners em~aeeJ in real estate btbmess :\ learned that C was interested m buying a certain parcel of
iand owned by the partn;r.;hip. eren for a higher pm:e \\'1thout mfom1mg l~ :-\ was abk to make H sl.!ll to him L\ J
l 1 1 ~r 1 4. 1 1 ,. 1 I J .._ 1 I.""•
'11:~ ;'I}· :,J .)Jldl ~ !JI iuc pa1"u1~l .)JU jJ J Jll..JI ...... :'>VJ U lll~ JclJJU ell cl I.J li:; JIIUIIL

aA 1s l!abk to B for the lattl.!r · s sharl! m the profit


bC 1s liabk to B for the lancr s share: m the pro lit
cth~ jYdrtnersrup LS dLssoh·ed whc.:n ,\ became the sok owner .
d~i-:.: :>ak 0:·tli.: J,md tr, r t ; ..-0,d :~me..: n .,,,.·a:, w1th0t.il th..: knowkdg..: ol f~
-:,, , af;,:T the: d-:Hth ,l he, fatha solJ his 1nherit.:mcl! though 1~; amount ha!-i not yet hccn ddcrminl!J to I~. lor a
~l.,'.°'c_-, • .1.-rdtK.n rA J-1-i(, (/)41
1
-1 :b:. :_·1ritr~e,1 r . , ,d1<l only If the: mhc.:ntan<-1! v:1IUl!'.-i at ka:;t c:qual to or more than Jl')rJ ( • ll

b tht: v.n·r,..~t ;, T~'.(...1'>',1hk


~.c ,, ·,r,tr,11,t ,_,, , '11 1,J ,;, c.:nlri<,ugh n, ,thmg n:m am:; of the: mht:ntancl! to he: turm.:d ovc.:r to I~
~ ✓1 ·.~r~.t.: ;•. ,'1Jd future mhcn t:incc: cann0t he the 1 JhJC.:Cl ot ·,ak

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