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STUDY GUIDEI.DEFINITIONS1.Partnership2.Element of delectus personae3.Particular partnership4.Secret Partnership5.Universal Partnership of profits6.Partnership with a fixed term7.Subpartnership8.Industrial partner9.Eviction10.Future partnership11.Partner’s interest in a partnership12.Profit13.Surplus14.Partnership capital15.Pro rata liability16.Subsidiary liability17.Equitable interest or title18.Estoppel19.Dissolution20.Termination21.Knowledge of a fact22.Notice of a fact23.Assets of the partnership
24.Limited partnership25.Substituted limited partner26.Presumption of general partnership27.Contributor28.Preferred limited partnerII.DISCUSSIONS1.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?