Login

You are not logged in.

A.I. Powered: Philippine Bar Reviewer

AllBar 2024COMMERCIAL AND TAXATION LAWSII. PARTNERSHIPB. Obligations of Partners Among Themselves (Civil Code, arts. 1784-1809)

Notice: Please use a computer for better learning experience using flashcards.

Question

II. PARTNERSHIP
B. Obligations of Partners Among Themselves (Civil Code, arts. 1784-1809)

1. Juan and Pedro entered into a partnership agreement to operate a car repair shop. The articles of partnership clearly state that all profits and losses shall be shared equally between them. However, Juan has been mismanaging the business and causing significant financial losses. Meanwhile, Pedro has been diligently performing his duties and responsibilities. Discuss the rights and remedies available to Pedro under the Civil Code provisions on obligations of partners among themselves.

2. Maria, Jose, and Antonio are partners in a law firm. They entered into a partnership agreement which stipulates that Maria and Jose will equally contribute capital, while Antonio will provide his legal expertise as his contribution. However, Antonio has been neglecting his duties, resulting in delays in the processing and handling of legal cases. This has caused a negative impact on the firm's reputation and financial standing. Analyze the rights and liabilities of the partners in this situation, considering the provisions of the Civil Code on obligations of partners.

  1. Discuss the different ways by which a partner's liability for partnership obligations may be limited under the Civil Code.
  2. What are the obligations of partners as to the use and management of partnership property? Provide examples to illustrate these obligations.
  3. Explain the duty of loyalty and good faith that partners owe to each other. How does this duty affect their actions and decisions within the partnership?

Answer

A.I Checked Online Essay Flashcards | Instant analysis of your answers - identify and focus on your area of improvements.