OAPERINA, APRIL JOYCE C.

BUSINESS LAW AND REGULATIONS

BSA 2 CAVSUONLINE QUIZ #2

2020 MARCH 23-27

MATCHING TYPE

A. JUDICIAL C. DISSOLUTION E. EXTRAJUDICIAL

B. TERMINATION D. WINDING UP F. CONTRAVENTION

A. JUDICIAL 1. Winding up under the control and direction of the court, upon proper
cause that is shown to the court.

E. EXTRAJUDICIAL 2. Winding up by the legal representative of the last surviving partners

C. DISSOLUTION 3. partnership is not terminated but continues until the winding up of

partnership affairs is completed.

D. WINDING UP 4. The process settling business affairs after dissolution.

B. TERMINATION 5. the point in time after all the partnership affairs have been wound up.

TRUE OR FALSE

FALSE 1. when the firm is dissolved, a partner can still bind the partnership.

FALSE 2. where the dissolution is caused by the act, insolvency or death of a partner,
each partner is not liable to his co-partners for his share of any liability created by any
partner acting for the partnership.

FALSE 3. the dissolution of the partnership discharge the existing liability of any partner.

FALSE 4. when a partner retires, he is entitled what is due him after liquidation and
liquidation is needed if there is already a settlement at the date of dissolution.

FALSE 5. an INDUSTRIAL PARTNER can also engage in BUSINESS FOR HIMSELF.

TRUE 6. a PARTNERSHIP being a juridical person by itself can form another partnership.

TRUE 7. Unless he is generally sued, a partner has no right to make a separate

appearance in court, if the partnership being sued is already represented.
TRUE 8. any immovable property or an interest therein maybe acquired in the
partnership name.

TRUE 9. a partner who has undertaken to contribute a sum of money and fails to do so
becomes a debtor for the interest and damages from the time he should have complied
with his obligation.

TRUE 10. if the cause is not justified or no cause was given, the withdrawing partner is
liable for damages but in no case can he be compelled to remain in the firm.