X, Y, and Z are partners in XYZ Partnership, Ltd. Y as limited partner. After five years of operations, the partnership incurred debts in favor of third persons totaling ₱5 million. The total partnership assets is ₱3 million. Who among the partners shall be liable with their separate property in favor of creditors?
A) X and Z for ₱1.5 million each because they are general partners
B) X, Y and Z for ₱1 million each
C) X, Y, and Z depending upon their capital contribution.
D) none
Correct Answer:
Verified
Q2: Alonzo offered to sell to Bernardo a
Q3: Jose is under obligation to deliver to
Q4: In case of losses, the industrial partner
Q5: Every contract of partnership having a capital
Q6: A and B are partners in A
Q8: Mr. P, a passenger in Allied Bus
Q9: Which of the following is correct?
A)The debtor
Q10: Which of the following is correct?
A)A rescissible
Q11: Mr. P, a passenger in Allied Bus
Q12: What is the legal concept of possession?
A)The
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents