October 1984 a b and c are partners in x and co d

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Anderson's Business Law and the Legal Environment, Comprehensive Volume
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Chapter 41 / Exercise 4
Anderson's Business Law and the Legal Environment, Comprehensive Volume
Jennings/Twomey
Expert Verified
OCTOBER 1984A, B and C are partners in X and Co. Drepresented himself as a partner in X andCo. to E who on the faith of suchrepresentation extended P10,000 creditto X and Co. Assuming only A and Bconsented to such representation, whoshall be held liable to E?a. Since E extended the P10,000 credit toX and Co., a partnership liability exists,thus, all the partners and D are liable. b. Only A, B and D are partners byestoppel and, thus, are liable pro-rata toE. c. Only D, who made the representationshall be liable to E.d. Only partners A, B and C whobenefited from the credit extended by Eshall be liable to E.ANSWER: B
MAY 1988A, B and C are partners in ABC Company.D represented himself as a partner inABC Company to E, who on the belief ofsuch representation, extended a P50,000credit to ABC Company. Assuming only Band C consented to such representation,who will be liable to E?
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Anderson's Business Law and the Legal Environment, Comprehensive Volume
The document you are viewing contains questions related to this textbook.
Chapter 41 / Exercise 4
Anderson's Business Law and the Legal Environment, Comprehensive Volume
Jennings/Twomey
Expert Verified
OCTOBER 1988A and B are equal partners in ABCompany. Y represented himself as apartner in AB Company to Z who relyingon such representation, extended aP50,000.00 credit to AB Company. Of thetwo partners, only B knew and consentedto the representation of Y. Who should beheld liable to Z?
MAY 1989A, B and C are partners in ABC Company.D introduced himself as partner in ABCCompany to X, who in the belief of suchintroduction, extended a P40,000.00credit to ABC Company. These facts areknown to A who did not oppose. Whoshall be held liable to X?a. Since X extended the credit to ABCCompany, a partnership liability exists,thus, partners A, B, C and D are liableb. Only A, who knows the transactions,and D are partners by estoppel who areliable pro-rata to Xc. D who represented himself as apartner in ABC Company is liabled. A, B and C, who benefited in theP60,000.00 credit shall be liable to X

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