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law midterm examination, Exams of Law

West Visayas State University (WVSU)Law

answers to business law midterm examination

Typology: Exams

2019/2020

Uploaded on 05/18/2020

aninom
aninom 🇵🇭

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PARTNERSHIP AND CORPORATION
BUSINESS LAW 2
MIDTERM EXAMINATION
NAME: MONINA D. CAHILIG YEAR & SECTION: BSA 2-A
I. Multiple Choice
1. A
2. C
3. A
4. C
5. A
6. B
7. C
8. B
9. B
10. C
11. B
12. A
13. A
14. C
15. D
16. D
17. D
18. D
19. C
20 C
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PARTNERSHIP AND CORPORATION

BUSINESS LAW 2

MIDTERM EXAMINATION

NAME: MONINA D. CAHILIG YEAR & SECTION: BSA 2-A

I. Multiple Choice

  1. A
  2. C
  3. A
  4. C
  5. A
  6. B
  7. C
  8. B
  9. B
  10. C
  11. B
  12. A
  13. A
  14. C
  15. D
  16. D
  17. D
  18. D
  19. C 20 C

II. Identification

  1. General Partner
  2. Partnership by Estoppel
  3. Dissolution
  4. Limited Partnership
  5. Partnership
  6. Partnership of Profits
  7. Managers
  8. Partner
  9. Accounting
  10. Partner’s Interest in the partnership III. Essay
  11. a) No, Corona will not be considered as a partner, but he will be subject to the liability of the partnership. b) Corona do not have the same right like Cory, Verona, Sona and Sons in the partnership. He will not have a right in terms of sharing profits and managing the business but he is subject to the liability of the partnership. c) The effect of using the name of Corona in the name of the firm is for the third party/person to have knowledge of the business and can easily attract more customers, investors or creditors since Corona is well-known in the business.
  12. a) A partner cannot assign his/her interest in the partnership because the interest is non-assignable and non-transferable except there is stipulation. b) Assignment of partner’s interest does not result to dissolution of the partnership unless if it is unlawful. c) The right of the assignee is the right to receive profits and recover his/her capital contribution.
  13. Being at Home waiting when will this Pandemic will end is tiring, it makes us suffer but it made me realized that being with your family at this time of crisis having foods in the table is a blessing. Knowing who are the true friends that you