23. Partner whose connection with the firm is known to the publicA.OstensibleB.Secret C.SilentD.NominalANS: A
24. Partner whose connection with the firm is concealed or kept secret
25. Partner who is both a secret and silent partner
26. Partner who is not really a partner but who may become liable as such insofar as third persons are concerned
27. May contribute money, property or industry to the common fundA.Limited partnerB.General partnerC.Both limited and general partnersD.Dormant partnerANS: B
28. May be required to make additional contribution in case of imminent loss:
29. A, B and C are partners each contributing P10,000. The firm’s indebtedness amounts to P90,000. It was stipulated that A would be exempted from liability. Assuming that the capitalof P30,000 is still in the firm, which of the following is not correct?