NAME ___OAPERINA, APRIL JOYCE C.

______________

COURSE AND YEAR ___BSA 2___________________

CLASS SCHEDULE ___THURSDAY (7:00-10:00AM)_____

PHILIPPINE CHRISTIAN UNIVERSITY

BUS LAW AND REGULATIONS

ONLINE QUIZ

19-March 2020

MULTIPLE CHOICE (Underline the letter of the correct Answer)

1. An Industrialist Partner

a) one who FURNISHES INDUSTRY or LABOR

b) he is EXEMPTED from LOSSES as between the partner and not

liable to strangers without prejudice to reimbursement from the
capitalist partner

c) Can engage in any other BUSINESS WITHOUT the express

CONSENT of the other partners, OTHERWISE

d) All of the above

e) Statement B and C only

2. Essential requisites of the contract of Partnership

a) There must be a valid Contract;

b) There must be a contribution of money, property or industry to

a common fund;

c) The Partnership must be organized for gain or loss;

d) Statement A and B is correct

e) All of the above

3. one who is not really a partner BUT who may become liable as such
insofar as third persons are concerned
 a) nominal partner c) silent partner

b) Ostensible partner d) liquidating partner

4. One who does not participate in the management, though he shares in

the PROFITS or LOSSES

a) Silent Partner c)Dominant Partner

b) b)Secret Partner d)Managing Partner

5. Preferential Rights of Partnership Creditors

a) partnership creditors are entitled to PRIORITY over partnership

assets, including the partners interest in the profits

b) Separate or Individual creditors have Preference in separate or

individual properties

c) Both Statements are Correct

d) Both are False

TRUE OR FALSE

FALSE 1. If a partner sells his share to a third party, BUT the firm
itself still remains SOLVENT, partnership creditors can assail the validity of
the sale by alleging that it is made in fraud of them, since they have not
really been prejudiced.

TRUE 2. A partnership is a CONTRACT of MUTUAL AGENCY, each

partner acting as a principal and agent of his own behalf.

FALSE 3. when an UNLAWFUL PARTNERSHIP is dissolved by a

judicial decree, the PROFITS shall be CONFISCATED in Favor of the Partners
 FALSE 4. IF REAL PROPERTIES have been contributed, REGARDLESS
of the VALUE, a public instrument is not necessary for the attainment of
legal personality.

FALSE 5. the designation of shares by third persons may be

IMPUGNED, IF it is MANIFESTLY EQUITABLE.

FALSE 6. power to act may not be revoked with or without just

cause.

FALSE 7. when the manner of management has not been agreed

upon the acts of one are opposed by the rest, the majority shall not
prevail.

FALSE 8. when a partner acts in his OWN NAME, he is bound in the

partnership.

TRUE 9. a STATUS and a FIDUCIARY RELATION subsisting between

persons carrying on a business in common with a view on profit.

TRUE 10. Contracts entered into by a “partner” in his own name

may be sued upon still by him in his individual capacity, not withstanding
the absence of a partnership.