Millan, Maria Ruffa V.

Articles 1815-1818 1) Which of the following statements is true: a) All partners, including industrial ones, shall be liable pro rata with all their property and after all the assets have been exhausted, for the contracts which may be entered into in the name of the partnership under its signature and by a person authorized to act for the partnership. b) Only industrial partners shall be liable pro rata with all their property and after all the assets have been exhausted, for the contracts which may be entered into in the name of the partnership under its signature and by a person authorized to act for the partnership. c) Only capitalist partners shall be liable pro rata with all their property and after all the assets have been exhausted, for the contracts which may be entered into in the name of the partnership under its signature and by a person authorized to act for the partnership. d) In a limited partnership, the partners are liable pro rata with all their property and after all the assets have been exhausted, for the contracts which may be entered into in the name of the partnership under its signature and by a person authorized to act for the partnership. Answer: A
2)

An act of a partner which is not apparently for the carrying on of business of the partnership in the usual way: a) b) c) d) Does not bind the partnership unless authorized by the other partners Binds the partnership even without the consent by other partners. Does not bind the partnership even if authorized by the other partners Binds the partnership if the partner is a capitalist partner. Answer: A

3)

Under article 1816, partners are liable pro rata with their individual property for contracts entered into, except: a) Those entered into by capitalist partner in the name of the partnership b) Those entered into in the name and account of the partnership c) Entered into under its signature d) Entered into by a person authorized to act for the partnership Answer: A