Part 2.docx - LAW 1102 u2013 PROBLEMS AND ACTIVITIES April...

This preview shows page 1 - 2 out of 5 pages.

LAW 1102 – PROBLEMS AND ACTIVITIES: April 15 to 18, 2020 - 65 POINTS I. Limited Partnership (20 points) 1. X, a limited partner in a partnership with Y and Z as general partners, lawfully received the return of his contribution in the amount of P20,000, the assets of the partnership are insufficient to pay the firm’s indebtedness to W. State the liability of X if the claim of W arose: a. Before X received his contribution (5 points); and b. After X received his contribution (5 points). 2. Same facts above. X contributed property to the partnership. In case X is entitled to a return of his contribution, does he have the right to demand the return of the same property? Why or why not? Cite the applicable section. (5 points) 3. Same facts above. W, a partnership creditor, brought an action against the partnership. May X included as a party defendant? Why or why not? Cite the applicable section. (5 points) . Memory Recall (25 points): a.Think of an establishment around the school;Isetannb.Give your impression or assumption on whether it is a sole/single proprietorship, partnership or corporation, and why?

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture