A, B and C are the partners. A conveyed to X his whole interest in the partnership. What is the effect of the conveyance?

Related MCQs

• 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:
• 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 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:
• 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?
• A, B and C are partners engaged in a retail business. Their contribution is P20, 000.00 each. D is admitted as a new partner with a contribution of P8, 000.00. At the time of his admission, the partnership has an outstanding obligation to E in the amount of P80, 000.00. In this case:
• In 1980, during the lifetime of A’s parents he executed a waiver of right over his future inheritance in favor of his brother B. A predeceased his parents. After the death of his parents in 2010, B obtained a title over the whole estate. Can A’s children recover their father’s share?
• Samson, the son of a wealthy family has always claimed that since childhood, he was not a boy. He played with the girls and did not mingle with the boys. After finishing his course at a university in the Philippines, he went to the US to take up his masteral and doctorate degrees. He consulted several doctors of the possibility of sex transmission from that of male to that of a female. The sex transmission was done in Thailand and which was certified as successful by a medical expert in Manila, hence, he claimed to be a woman. He filed a petition for correction of entry of his record of birth from male to female and his name from Samson to Delailah as he was marrying his fiancé. The lower court granted the petition. Is the order of the court correct?
• A built his house on his lot up to the boundary line and opened windows with direct view over the lot of B. Twenty (20) years later, B built his house up to the boundary line of his lot, hence, A filed a complaint enjoining B from building his house up to the boundary contending that he has acquired the easement of light and view by prescription and that B cannot build less than 3 meters from the boundary. Is A correct?
• In connection with the rule of mutual agency of the partners in a partnership which of the following is not correct?