7. The following are instances, except one, when a partnership is unlawful. Which is the exception? a. A partnership formed for the purpose of selling illegal drugs. b. A partnership formed for the purpose of buying lands. C A partnership formed to create illegal gambling. d. A partnership formed for selling smuggled cars. 8. X and Y orally agreed to form a partnership. Each contributed cash worth P15, 000 to common fund. But they did not register the partnership with the Securities and Exchange Commission. a. The partnership is void b. The partnership is voidable c. The partnership is still valid d. The partnership is valid and unenforceable 9. The partners contribute all the property which actually belongs to them to a common fund, with the intention of dividing the same among themselves, as well as all the profits which they may acquire therewith. a. Universal partnership of all profits b. Universal partnership of all present property c. Particular partnership d. None of the above

7. The following are instances, except one, when a partnership is unlawful. Which is the exception? a. A partnership formed for the purpose of selling illegal drugs. b. A partnership formed for the purpose of buying lands. C A partnership formed to create illegal gambling. d. A partnership formed for selling smuggled cars. 8. X and Y orally agreed to form a partnership. Each contributed cash worth P15, 000 to common fund. But they did not register the partnership with the Securities and Exchange Commission. a. The partnership is void b. The partnership is voidable c. The partnership is still valid d. The partnership is valid and unenforceable 9. The partners contribute all the property which actually belongs to them to a common fund, with the intention of dividing the same among themselves, as well as all the profits which they may acquire therewith. a. Universal partnership of all profits b. Universal partnership of all present property c. Particular partnership d. None of the above

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter11: Partnerships: Distributions, Transfer Of Interests, And Terminations

Section: Chapter Questions

Problem 47P

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