324.docx - Question 43 A limited partnership was orally...

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Question 43 A limited partnership was orally agreed upon by A, B and C as general partners and D, E and F as limited partners. Which of these is a correct statement? A valid limited partnership is nevertheless formed. No valid limited partnership is created and there will exist a general partnership where only A, B and C will be regarded as general partners. The oral agreement is void under the law and no partnership whether limited or general will exist. No valid limited partnership is created but there will exist a general partnership where all of A, B, C, D, E and F will be regarded as general partners. Question 44 Teresa, Olga, Pamela and Sonia, partners in TOPS Company Limited, a trading company, have contributions of P50,000.00 each. Teresa and Olga are general partners; Pamela, a limited partner; and Sonia, a general-limited partner. TOPS Company Limited purchased

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