X a drawee of a bill of exchange wrote the words

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54. X, a drawee of a bill of exchange, wrote the words: “Accepted, with promise to make payment within two days. Signed X.” The drawer questioned the acceptance as invalid. Is the acceptance valid? A. Yes, because the acceptance is in reality a clear assent to the order of the drawer to pay B. Yes, because the form of the acceptance is really immaterial C. No, because the acceptance must be clear assent to the order of the drawer to pay D. No, because the document must not express that the drawee will perform his promise within two days
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Page 12 PARTNERSHIP 55. A and B are co-owners of a parcel of land from where they share the profits equally as co-heirs in inheritance. Is there a partnership? A. There is a prima facie presumption of partnership because of the equal sharing of profits B. There is no partnership because co-ownership by itself does not establish a partnership despite the sharing of profits C. There is no partnership since in partnership, division of profits is not always necessary among partners D. There is prima facie presumption of partnership they being co-owners and co-possessors 56. A and B are partners in AB partnership. While A was performing his duties as a partner in the course of business, he negligently caused damage to X, a third person. Who shall be liable to X and up to what extent? A. Only the partnership shall be liable it being a juridical person separate and distinct from the partners B. Only A shall be liable for he is the only one at fault C. Both A and B shall be liable solidarily to X D. A, B, and the Partnership are all liable solidarily to X 57. A and B entered into a universal partnership of all present property. No stipulation was made regarding future property. After the perfection of the contract, A inherited a parcel of land and B acquired a car as remuneration for services rendered. The properties acquired after the perfection of the contract belong to whom? Land Car A. A B B. A Partnership C. Partnership B D. Partnership Partnership 58. On April 1, 2018, A and B entered into a contract of partnership for the purpose of selling cows’ milk, with the former as capitalist partner and the latter as industrial partner. It was agreed that A shall contribute 1,000 cows to the common fund on May 2, 2018. Upon the arrival of the designated date, A failed to deliver the contribution he promised. As a result A. B should make a demand upon A for the delivery of his contribution and its fruits to render A in default B. The contract of partnership becomes void because A failed to give his contribution to the common fund C. B can compel A to deliver his contribution and its fruits without the necessity of demand D. The contract of partnership was never perfected because there was no delivery of contributions by the partners 59. In case a managing partner collects a demandable debt from his debtor who also owes the partnership a demandable debt, which of the following is not correct if payment is not enough to cover the two debts?
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