Law on ParCor (STUDY GUIDE).docx - STUDY GUIDE I DEFINITIONS 1 Partnership 2 Element of delectus personae 3 Particular partnership 4 Secret Partnership

Law on ParCor (STUDY GUIDE).docx - STUDY GUIDE I...

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STUDY GUIDE I. DEFINITIONS 1. Partnership 2. Element of delectus personae 3. Particular partnership 4. Secret Partnership 5. Universal Partnership of profits 6. Partnership with a fixed term 7. Subpartnership 8. Industrial partner 9. Eviction 10. Future partnership 11. Partner’s interest in a partnership 12. Profit 13. Surplus 14. Partnership capital 15. Pro rata liability 16. Subsidiary liability 17. Equitable interest or title 18. Estoppel 19. Dissolution 20. Termination 21. Knowledge of a fact 22. Notice of a fact 23. Assets of the partnership
24. Limited partnership 25. Substituted limited partner 26. Presumption of general partnership 27. Contributor 28. Preferred limited partner II. DISCUSSIONS 1. Enumerate the five essential features of a partnership contract. Why is a partnership characterized as a preparatory contract? 2. Explain and illustrate: a partnership is a juridical person. 3. Give the cases when a person who is not a partner has a right to share in the profits of a partnership. 4. What is the importance of giving publicity to the articles of partnership?
5. Give the effects where a partnership is formed for an unlawful purpose. 6. Illustrate the relations created by a contract of partnership. 7. State the 5 obligations of a partner with respect to property he promised to contribute. 8. Give the requisite before a capitalist partner may be obliged to sell his interest in a partnership to the other partners. 9. Why is appraisal of the value of the goods or property contributed by a partner required? How shall it be made? 10.State the liability of a partner if he fails or delays his obligations with respect to contribution of property. What is the reason of the rule?
11.What are the property rights of a partner in a partnership? 12.What rights are not acquired by an assignee or transferee of a partner who conveys all his interest in a partnership? 13.What are the only rights acquired by said assignee or transferee? 14. What is considered as the extent of a partner’s interest in a partnership?

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