A and B are partners in A & B Partnership. A owns two parcels of land which he contributed to the partnership. B owns six trucks which he contributed to the partnership. The profits of the land and the trucks were also included as contributions. The properties contributed are all what A and B own. The partnership is:

Related MCQs

• Spouses Reynaldo and Ana decided to separate and to voluntary dissolve their conjugal partnership. Hence, they executed a public document wherein they declare that they had no debts, that they were voluntarily dissolving their conjugal partnership, and that each of them would thereafter be free to acquire or dispose of any property independently of the other. Thereafter, they lived apart. Ana engaged in business which unfortunately failed. Reynaldo, on the other hand, continued to be gainfully employed and was able to acquire properties through his own efforts. The creditors of Ana obtained a judgment against the latter which they could not satisfy because Ana was insolvent. Could the creditors of Ana obtain satisfaction of the judgment out of the properties of Reynaldo?
• 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 P5 million. The total partnership assets is P3 million. Who among the partners shall be liable with their separate property in favor of creditors?
• X during his lifetime sold and conveyed two (2) parcels of land to his heirs. After X’s death and the probate of his will, are the conveyed properties subject to collation for determination of the heirs’ legitime?
• A and B are compadres. They own two (2) adjacent parcels of land covered by TCT Nos. 1 and 2 respectively where they reside. With the use of fraud, A registered the property of B under his name in 2009. Can B recover the title?
• Wendy, single, bought a parcel of land in Dagupan City from Amante for P600,000.00. A contract was executed between them which already vested upon Wendy full ownership of the property, although payable in monthly installments for a period of 4 years. One year after the execution of the contract, Wendy got married to Lorenzo. They executed a marriage settlement whereby they agreed that their properties shall be governed by the regime of conjugal partnership of gains. Thereafter, subsequent installments were paid from the conjugal partnership funds. Is the land conjugal or paraphernal?
• A and B are capitalist partners, with C as an industrial partner. A and B contributed P15, 000.00 each to the capital of the partnership. A contractual liability of P40, 000.00 was incurred by the partnership in favor of X. If the capital assets have been exhausted to pay X, leaving a contractual liability of P10, 000.00, X can recover the amount from:
• Marvin was married to Charina on February 14, 1990. Charina gave birth to a baby girl she named Noreen. Due to irreconcilable differences, Marvin left the conjugal dwelling. Charina, on the other hand fell in love with David and they decided to live together as husband and wife on May 12, 1992. Six (6) years after or on September 8, 1998, Marvin died in an accident. Free at last, Charina and David decided to get married on February 14, 2000 executing an affidavit that they have been living together as husband and wife for more than five (5) years. The marriage took place but the solemnizing officer failed to execute an affidavit that he ascertained the qualifications of the contracting parties. Two (2) years later, Charina died living a considerable amount of properties. Noreen, assisted by her grandparents, filed a petition questioning the validity of her marriage to David. If you were the judge, how will you decide on the petition?
• A tolerated B to use his land, hence, B constructed a road where his trucks would pass through, going in and out of his land. Fifty (50) years thereafter, A asked B to pay rentals but B refused contending that he has already acquired ownership over the easement of right of way by prescription. Is B correct?
• A owns a parcel of land. Through the natural current of the river, there was a gradual increase in the area from 11,000 square meters to 13,000 square meters in a period of 8 years. Can A register the land?
• A and B are married, but separated in fact. While in the practice of her profession, B acquired properties. They are governed by the conjugal partnership of gains. Who is/are the owner/s of the properties?