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Saint Louis College

City of San Fernando, 2500 La Union
COLLEGE OF COMMERCE, SECRETARIAL & ACCOUNTANCY

COURSE NUMBER: LAW 2

COURSE TITLE: BUSINESS LAWS AND REGULATIONS
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INSTRUCTIONS

1. This Questionnaire contains 6 pages including the instruction page. Check

the number of pages and their proper sequencing.
2. Read each question very carefully and write your answers in your
Examination Pad (word document) in the same order the questions are
posed. Note well the allocated points for each question. Use the numbering
system in the questionnaire for your answers.
3. Answer the MCQ and True or False questions using CAPITAL LETTERS.
For Essay questions answer it clearly and concisely. You do not need to
re-write or repeat the question in your Examination Pad.
4. You are required to encode your answers in a word processing software or
application (Microsoft Word or Pages for Mac), which must be converted to
a pdf file before submission. Save them in .pdf using the format:
Section_Family Name, First name i.e. A_CABULANG, MARGIELENE
5. Submit your answers in the same link in Google Classroom you used to
download the questionnaire. Select +Add and then Turn In. Should that
prove difficult you may send your answers to my Facebook Messenger
Account (Marge Cabulang).
6. A deduction of 2 points will be made for every 5 mins of delay. Re-
submissions are prohibited. The first answer to be submitted shall be the
one checked. You only have until 5:45 P.M.to submit your answers.
7. NO CHEATING. CHEATING AND ANY BADGES THEREOF SHALL BE
DEALT WITH IN ACCORDANCE WITH THE SCHOOL POLICIES, ASIDE
FROM GETTING AN AUTOMATIC ZERO IN THIS QUIZ.

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I. MULTIPLE CHOICE
Choose the best answer. (1pt each)

1. The birth and life of this kind of partnership is predicated on the

mutual desire and consent of the partners.
a. Partnership for a fixed term
b. Consensual Partnership
c. Partnership at will
d. All of the above

2. An entity created by law and given certain legal rights and duties
of a human being or a being, real or imaginary, who for the
purpose of legal reasoning is treated more or less as a human
being.
a. Natural person
b. Juridical person
c. Normal person
d. None of the above

3. It means that each partner must contribute money, property, or

industry. Of course, a partner can contribute one, some or all of
these.
a. Consensual
b. Nominate
c. Onerous
d. Preparatory

4. The following are instances when a partnership is unlawful.

Except:
a. A partnership formed for the purpose of selling illegal drugs.
b. A partnership formed to create illegal gambling.
c. A partnership formed for the purpose of buying lands.
d. A partnership formed for selling smuggled cars.

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5. Margie and Angelo orally agreed to form a partnership. Margie

contributed a land worth P150,000 while Angelo contributed a
building worth P100,000 both to the common fund. However,
they did not put it in the inventory nor did they notarize it. The
contract of partnership is:
a. Void
b. Voidable
c. Valid
d. Unenforceable

6. All of the following are exception to the general rule that the
contract of partnership may be constituted in any form, except:
a. Statute of frauds
b. Partnership with the capital of P 3,000 or more
c. There is a contribution of a real property
d. There is a contribution of a personal property

7. It is a kind of partnership where the parties represented

themselves to others, by words or by deeds, as partners when in
reality there is no intention to do so.
a. De jure Partnership
b. Partnership at will
c. Partnership by estoppel
d. Partnership by deeds

8. The partners contribute all the property which actually belongs

to them to a common fund, with the intention of dividing the
same among themselves, as well as all the profits which they may
acquire therewith.

a. Universal partnership of all profits

b. Universal partnership of all present property
c. Particular partnership
d. None of the above

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9. An agreement to enter in a partnership at a future time which

by its terms is not to be performed within a year from making
thereof was made orally. What is the status of the contract of
partnership?
a. Valid
b. Void
c. Voidable
d. Unenforceable

10. It is one where there is at least one general partner and one
limited partner.
a. De jure partnership
b. De facto partnership
c. General partnership
d. Limited partnership

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II. MODIFIED TRUE OR FLASE

Write TRUE if the statement is correct. If incorrect, write FALSE and
beside it is the correct word or phrase to make the statement correct.
(2pts each)

1. Co-ownership or co-possession in itself establish a partnership,

except when such co-owners or co-possession share in the profits
made by the use of the property.

2. If a person receives a share in the profits of a business, he is

prima facie presumed to be a partner in business.

3. The partnership has a judicial personality separate and distinct

from that of each of the partners.

4. Partnerships with a capital of more than P3,000.00 must be in

public instrument.

5. The right to choose with whom a person wishes to associate

himself is the very foundation and essence of that partnership.

6. The registration requirement with Securities and Enforced

Commission (SEC) is mandatory when the capital of P3,000 or
more is made.

7. The receipt by a person of a share of the profits of a business is

conclusive evidence that he is a partner in the business.

8. Persons who are prohibited from giving each other any donation
cannot enter into universal partnership.

9. A written contract of partnership is given more weight than that

of an oral one.

10. Where an immovable property is contributed in a partnership a

private instrument shall be necessary.

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III. ESSAY

1. Explain the doctrine of delectus personae. (5pts)

2. When is there partnership? (5pts)

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