CHAPTER 2

OBLIGATIONS OF THE PARTNERS (ART. 1784 – ART. 1816)

1. A partnership begins from the moment of the ______

of the contract.
A.Negotiation
B.Perfection
C.Preparation
D.Execution

2. It is one where the life or period of existence of

the partnership has been agreed upon by partners.
A.Partnership for a particular undertaking
B.Partnership at will
C.Partnership at conventional
D.Partnership with a fixed term

3. Which of the following is not an obligation of every

partner in a partnership?
A.To contribute what had been promised
B.To deliver fruits
C.To warrant
D.There is no obligation of the partner but the
creditor

4. Which of the following is a manner of appraisal when

the capital a partner contributes consists of goods?
A.By stipulation
B.By experts chosen by third persons
C.By the law
D.By experts chosen by the partners according to
average prices

5. A partner who has undertaken to contribute a money

by fails to do becomes a ______ for the interest and
damages from the time he should have complied with his
obligation.
A.debtor
B.creditor
C.obligee
D.vendee

6. Which of the following is a partner who contributes

only his labor to the common fund?
A.Capitalist partner
B.Monopolist partner
C.Industrial partner
D.Limited partner

7. It is a partner who contributes money or property or

both to the common fund.
A.Capitalist partner
B.Monopolist partner
C.Industrial partner
D.Limited partner

8. As a general rule, these partners are not bound to

contribute additional capital in case of an imminent
loss of the partnership.
A.Capitalist partners
B.Monopolist partners
C.Industrial partners
D.Limited partners

9. Those partners in an existing legal partnership.

A.Original partners
B.Real partners
C.Surviving partners
D.Majority partners
10. It demands proportionate share in the benefits and
losses.
A.Damage
B.Contribution
C.Equity
D.Inequity

11. Those who are members of the partnership from the

time of its constitution.
A.Original partners
B.Real partners
C.Surviving partners
D.Majority partners

12. The partnership bears the risk of loss with the

following except:
A.Fungible things
B.Things contributed to be sold
C.Things brought and appraised in the inventory
D.Specific and determinate things which are fungible

13. Which of the following is an obligation of the

partnership to evert partner?
A.To bear risk of loss for specific and determinate
things which are not fungible
B.Not to bear risk of loss for things contributed by
partners to be sold
C.To refund the amounts a partner may have disbursed on
behalf of the partnership plus the interest from the
time expenses were made
D.To answer to each partner for obligations, he may not
have contracted into in good faith in the interest of
the partnership and for the risks in consequence of
its management
14. In the distribution of profits, if there is no
agreement, ______ receive what is in proportion to what
he may have contributed.
A.Capitalist partners
B.Monopolist partners
C.Industrial partners
D.Limited partners
15. In the distribution of losses, if there is no
agreement, ______ are not liable for loses.
A.Capitalist partners
B.Monopolist partners
C.Industrial partners
D.Limited partners

16. In the distribution of losses, if there is no

agreement, ______ bear what is in proportion to what he
may have contributed.
A.Capitalist partners
B.Monopolist partners
C.Industrial partners
D.Limited partners

17. They are those who manage actively the business or

affairs of the partnership.
A.Liquidating partners
B.Managing partners
C.Ostensible partners
D.General partners

18. They are those partners who take active part and
known to the public as a partner in the partnership.
A.Liquidating partners
B.Managing partners
C.Ostensible partners
D.General partners
19. They are partners who withdraw from the
partnership.
A.Expelled partners
B.Nominal partners
C.Deceased partners
D.Retiring partners

20. They are partners whose connection with the

partnership is not known to the public.
A.Dormant partners
B.Secret partners
C.Silent partners
D.Discontinuing partners

21. In a ______ the consent of the other partners is

not required.
A.Mutual trust
B.Contract of sub-partnership
C.Delectus personae
D.Delectus personarum

22. The ______ shall be kept at the principal place of

business of the partnership.
A.partnership document
B.partnership instrument
C.partnership secrets
D.partnership books

23. Who cannot demand true and full information of all

things affecting the partnership?
A.Legal representative of any deceased partner
B.Legal representative of any partner under legal
disability
C.Third persons
D.Any partner
24. It is held as business days throughout the year,
and not merely during some arbitrary period of a few
days chosen by the directors.
A.lucid interval
B.business hour
C.weekdays
D.reasonable hour

25. The ______ partners cannot engage for their own

account in any operation which is of the kind of
business in which the partnership is engaged, unless
there is a stipulation to the contrary.
A.Capitalist partners
B.Monopolist partners
C.Industrial partners
D.Limited partners

26. Which of the following is not an exception to the

rule that no formal accounting is demandable until
after the dissolution of the partnership?
A.As provided by article 1807
B.Whenever other circumstances render it just and
reasonable
C.If a partner is correctly excluded from the
partnership business
D.If the right to demand for accounting exists under
the terms of any agreement

27. Which of the following is not one of the property

rights of a partner in the partnership?
A.rights in specific partnership property
B.interest in the partnership
C.rights to vote
D.right to participate in the management
28. A ______ is co-owner with his partners of specific
partnership property.
A.natural person
B.vendor
C.partner
D.creditor

29. It is the excess of receipts over disbursements.

A.Surplus
B.Profit
C.Gain
D.Income

30. It is the voluntary transfer of a right or of

property.
A.novation
B.conveyance
C.assignment
D.remedy

31. It refers to the remedy available to a judgment

creditor of a debtor-partner to charge the interest of
the latter in the partnership by means of a court order
for the purpose of satisfying the amount of the
judgment.
A.Redemption
B."charging order" upon a partner's interest in the
partnership
C.Novation
D.Presumption

32. Every partnership shall operate under a ______

which may or may not include the name of or more of the
partners.
A.Corporation name
B.Firm name
C.Partnership name
D.Birth name

33. All partners, including industrial one, shall be

liable ______ with all their property and after all the
partnership assets have been exhausted.
A.pro-rata
B.subsidiary
C.principal
D.separately
CHAPTER 2
1.D
2.D
3.D
4.A
5.A
6.C
7.A
8.A
9.B
10. C
11. A
12. D
13. C
14. A
15. C
16. A
17. B
18. C
19. D
20. B
21. B
22. D
23. C
24. D
25. A
26. C
27. C
28. C
29. A
30. B
31. B
32. B
33. A