Question 1

When may a partner who was appointed as manager in the articles of partnership be removed?

Accepted Answer

A) May be removed at anytime. 
B) May be removed with just or lawful cause by majority of the partners. 
C) May be removed for just and lawful cause by a vote of partners representing controlling interest . 
D) May be removed by order of the court. 
A) May be removed at anytime. 
B) May be removed with just or lawful cause by majority of the partners. 
C) May be removed for just and lawful cause by a vote of partners representing controlling interest . 
D) May be removed by order of the court.

Question 2

A wrote his brother B authorizing the latter to sell a parcel of land belonging to him located in Cagayan Valley. On the strength of such letter-authority, B sold the land. Is the sale valid?

Accepted Answer

A) No, because the letter-authority must be in a public instrument. 
B) No, because the letter-authority must be participated in a notary public. 
C) Yes, because it is sufficient that the letter-authority be in writing. 
D) No, sale in invalid. 
A) No, because the letter-authority must be in a public instrument. 
B) No, because the letter-authority must be participated in a notary public. 
C) Yes, because it is sufficient that the letter-authority be in writing. 
D) No, sale in invalid.

Question 3

What does the sharing of gross returns in a business undertaking mean?

Accepted Answer

A) Conclusive evidence of partnership. 
B) Prima facie evidence of partnership. 
C) Does not establish a partnership whether or not the persons sharing them have a joint or common right in any property upon which the returns are derive 
A) Conclusive evidence of partnership. 
B) Prima facie evidence of partnership. 
C) Does not establish a partnership whether or not the persons sharing them have a joint or common right in any property upon which the returns are derive

Question 4

P appointed A, his agent to manage his business in the United States of America. A died and his son, S, managed the same until P could appoint another agent to personally take over. The agency of S is one based on:

Accepted Answer

A) Ratification. 
B) Necessity. 
C) Estoppel. 
D) By operation of law. 
A) Ratification. 
B) Necessity. 
C) Estoppel. 
D) By operation of law.

Question 5

A constituted B as his agent to sell his property. B found C as the buyer who was willing to buy under the terms agreed upon but suddenly A changed his mind and decided not to sell the property. One week later, A and C, entered into a contract of sale over the property. Is B entitled to commission?

Accepted Answer

A) No, because when A decided not to sell, his agency was terminated. 
B) No, because he was not the procuring cause. 
C) Yes, because A acted in bad faith. (Infante v. Cunanan, 49 O.G. 3320. Art. 19, NC
C)  
D) Yes, because he did not give justice to B in the exercise of his right. 
A) No, because when A decided not to sell, his agency was terminated. 
B) No, because he was not the procuring cause. 
C) Yes, because A acted in bad faith. (Infante v. Cunanan, 49 O.G. 3320. Art. 19, NC
C)  
D) Yes, because he did not give justice to B in the exercise of his right.

When may a partner who was appointed as manager in the articles of partnership be removed?

A wrote his brother B authorizing the latter to sell a parcel of land belonging to him located in Cagayan Valley. On the strength of such letter-authority, B sold the land. Is the sale valid?

What does the sharing of gross returns in a business undertaking mean?

P appointed A, his agent to manage his business in the United States of America. A died and his son, S, managed the same until P could appoint another agent to personally take over. The agency of S is one based on:

A constituted B as his agent to sell his property. B found C as the buyer who was willing to buy under the terms agreed upon but suddenly A changed his mind and decided not to sell the property. One week later, A and C, entered into a contract of sale over the property. Is B entitled to commission?

Succession and Probate Law

Inheritance, Property and Ownership Laws

Property and Family Law

Philippine Laws and Marriage

Legal and Contractual Queries

Contractual and Partnership Issues

Legal and Contractual Obligations

Loans, Fraud, Liability, and Sale of Land

Obligation Scenarios in Civil Law

Legal Obligations and Their Application

Family and Marriage Law: Marriage, Divorce, Inheritance, and Property Rights

Family Law: Filiation, and Custody

Family Law: Marital Issues, Adoption, and Property Relations

Property Ownership and Rights

Legal Issues in Property Ownership and Easements

Donation, Probate, and Reserva Troncal in Philippine Law

Inheritance and Probate Law

Contractual and Legal Issues

Contractual Obligations and Remedies

Contracts of Sale and Property Ownership

Contractual Obligations and Liabilities

Legal Liability and Damages

Land Ownership and Registration Issues

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Exam 21: Legal Contracts, Partnerships, and Agency Law

When may a partner who was appointed as manager in the articles of partnership be removed?

A wrote his brother B authorizing the latter to sell a parcel of land belonging to him located in Cagayan Valley. On the strength of such letter-authority, B sold the land. Is the sale valid?

What does the sharing of gross returns in a business undertaking mean?

P appointed A, his agent to manage his business in the United States of America. A died and his son, S, managed the same until P could appoint another agent to personally take over. The agency of S is one based on:

A constituted B as his agent to sell his property. B found C as the buyer who was willing to buy under the terms agreed upon but suddenly A changed his mind and decided not to sell the property. One week later, A and C, entered into a contract of sale over the property. Is B entitled to commission?

Succession and Probate Law

Inheritance, Property and Ownership Laws

Property and Family Law

Philippine Laws and Marriage

Legal and Contractual Queries

Contractual and Partnership Issues

Legal and Contractual Obligations

Loans, Fraud, Liability, and Sale of Land

Obligation Scenarios in Civil Law

Legal Obligations and Their Application

Family and Marriage Law: Marriage, Divorce, Inheritance, and Property Rights

Family Law: Filiation, and Custody

Family Law: Marital Issues, Adoption, and Property Relations

Property Ownership and Rights

Legal Issues in Property Ownership and Easements

Donation, Probate, and Reserva Troncal in Philippine Law

Inheritance and Probate Law

Contractual and Legal Issues

Contractual Obligations and Remedies

Contracts of Sale and Property Ownership

Contractual Obligations and Liabilities

Legal Liability and Damages

Land Ownership and Registration Issues

Filters