SAINT LOUIS COLLEGE

City of San Fernando, La Union

Business Laws and Regulations
HOMEWORK

Instruction: Write your answers in a yellow pad paper.

I. Discussion. Answer the following: (5 points each)

1. Give the effect of the specific property to be contributed by a partner is lost:

(a) Before delivery;
(b) After delivery.

2. Enumerate the rights of a partner who has not caused the dissolution of a
partnership wrongfully when such dissolution is in violation of partnership
agreement.

3. Who are authorized to wind-up the affairs of a dissolved partnership?

4. Give the rights of an injured partner when a partnership is rescinded or

annulled on the ground of fraud or misrepresentation committed against
him.

5. Give at least four (4) grounds for the judicial dissolution of a partnership.

II. Essay. Explain or state the rule or reason for your answers. (10 points
each)

1. A, B and C are partners in Blu Co. which was dissolved by the withdrawal of
A. B who was notified by C of A’s withdrawal, entered into new transaction
with D in the name of the partnership.

(a) Is the partnership liable to D?

(b) Are A and C liable to B for their share of the liability?

2. A, B and C are partners in Blu Co. The term of existence of partnership

expired. This notwithstanding, A entered into a contract with D in the name
of the partnership.

(a) Is the partnership liable to D?

(b) What right, if any, is given to B and C?