11 Questions
Under whose laws is a partnership considered a national?
The laws of the country where the partnership was created
When does a partnership gain legal personality?
From the time the contract begins
What happens in the event of death, retirement, or insanity of a partner in a partnership?
It dissolves the partnership
What characteristic defines a general partnership as consensual?
It is perfected by mere consent or meeting of minds between parties
What is a partnership that is designated by a specific name and subject to specific rules applicable only to it?
Nominate partnership
Which principle pertains to the right to choose who to associate with in the formation of a partnership?
Delectus Personae
In which situation can a partnership be declared dissolved by judicial decree?
If it does not have a lawful object or purpose
What characteristic does a partnership have with regards to its separate juridical personality?
It has a judicial personality separate from each of the partners
What is one of the rules to apply in determining the existence of a partnership?
Number of organizers
How is a corporation created compared to a partnership?
Corporation is created by state while partnership is voluntary agreement
What is the maximum number of organizers in a corporation?
Not more than 50
Test your knowledge of the laws governing partnerships, including nationality, legal personality, and right of succession. Understand the implications of the location of partnership creation and the percentage of ownership.
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