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12. 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 merchandise on credit from Moret Sales Co. amounting to P180,000.00. On due date, however, TOPS Company Limited was unable to pay. Accordingly, Moret Sales Co. filed a case of collection against the partnership which by then had assets amounting to P150,000.00. From whom may Moret Sales Co. collect the sum of P180,000.00?a. the partnership for its assets of P150,000.00; thereafter, from Teresa and Olga at P15,000.00 each from their separate assets.b. Teresa and Olga only at P90,000.00 each from their separate assets.
c. The partnership for its assets of P150,000.00; thereafter, from Teresa, Olga and Sonia at P10,000.00 each from their separate property. However, Sonia can recover P5,000.00 each from Teresa and Olga.d. Teresa, Olga and Sonia at P60,000.00 each. Thereafter, Sonia can recover from Teresa and Olga P30,000.00 each.13. Which of the following losses will not cause the dissolution of a partnership?14. Gregory, Edmond and Mark are partners in GEM Company with contributions of P10,000.00, P40,000.00 and P50,000.00, respectively. Their agreement shows that they will share in the profits in theratio of 2:3:4. During the year, the partnership sustained a loss of P9,000.00. How shall this loss be divided among the partners?15. Which of the following stipulations is valid?