30 Questions
In case of profits, how should the partnership distribute the profits based on the given proportions?
A - 40%, B - 30%, C - 30%
What happens if partners do not have an agreement regarding profit distribution?
They will share profits equally among all partners.
How should the partners share the profits if there is no stipulation in the agreement?
Equally
If Angela, Boni, and Christine formed the ABC Partnership, what should be Christine's capital share based on her contribution?
$10,000
When does a partnership typically begin according to the general rule?
At the moment of signing the contract
What is the total gross capital upon dissolution of the partnership?
$250,000
What does it mean when partners have not yet fixed the conditions of their participation?
It does not affect the birth of the partnership
In case of liquidation, how much should Christine recover as a partner?
$10,000
In what scenario can partners stipulate a different start date for the partnership?
In a future partnership where partners agree on a different commencement date
What is an exception to the rule that a partnership begins at the execution of the contract?
Agreement to create partnership
How does an agreement to create a future partnership differ from a contract of sale according to the text?
It has no juridical existence yet
Under what circumstances do persons become partners in a future partnership?
Only if the agreed time has arrived or condition has happened
If the partnership makes a profit of P20,000, how much will Angela be entitled to?
P12,500
In the distribution of losses, how are losses typically distributed?
According to the partners' agreement and Article 1799
If D contributed P3,000, how much would C receive from the balance of P15,000?
P2,812.50
What would be the total amount Christine may recover if the partnership makes a profit of P25,000?
P45,000
In the case where D contributed P5,000 and the total contribution was P80,000, how will A, B, and C share the balance of P15,000?
P6,093.75, P4,062.50, P2,031.25
If Xeres is an industrial partner and the profit is P30,000, what will Xeres be entitled to?
P20,625
Why is it necessary for a contract of partnership with immovable property to appear in a public instrument?
To establish the legality of the partnership to third parties.
Which article states that a public instrument is necessary when immovable property or real rights are contributed to a partnership?
Article 1771
What happens if the inventory of immovable property contributed to a partnership is not made and attached to the public instrument?
The partnership agreement becomes void.
Why is the registration of articles of partnership necessary according to the text?
To provide access to interested persons.
In what scenario is a contract of partnership void according to Article 1773?
When contributions involve immovable property and no inventory is made.
Why is it important for a contract of limited partnership with immovable property to be registered?
To grant access to interested individuals.
What is the general rule regarding partners' contributions to partnership capital?
Partners may agree on either equal or unequal contributions.
In case of an imminent loss of the partnership business, what obligation falls on a capitalist partner who refuses to contribute additional capital?
He will be obligated to sell his interest to other partners.
Under what circumstance is an industrialist partner not bound by the general rule of equal or unequal contribution?
When the partnership agreement explicitly states otherwise.
What is the consequence if a capitalist partner refuses to contribute additional capital to save the partnership in an imminent loss scenario?
His interest will be sold to the other partners.
Why does a refusal by a partner to contribute additional capital in case of imminent loss lead to his interest being sold?
It reflects his lack of interest in continuing the partnership.
What role do majority capitalist partners play in saving a partnership facing an imminent loss?
They can decide to contribute additional capital collectively.
Learn about the rules regarding contribution to partnership capital, including the general rule of equal contributions and the possibility of unequal shares based on agreement. Explore the legal basis for partners having equal rights and obligations, with exceptions for industrialist partners.
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