If a partnership has a capital of more than P3,000.00 and it is not registered, is the contract valid?

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:
• Magdalene and Shantung Company entered into a contract of agency before the consul general of the Philippines in Singapore. They stipulated that Magdalene shall be the administrator of the real properties of Shantung Company in the said country. By virtue of the said contract, Magdalene sold the 1 hectare land of Shantung Company located in Singapore to Mayhem Real Estate Corporation without any special power of attorney. The said contract of sale was executed before the vice consul of the Philippines in Singapore. Under the laws of Singapore, the sale of a real property by an agent without a special power of attorney is valid. Shantung Company filed a suit for the annulment of the contract of sale on the ground that Magdalene has no authority to sell the property. If you were the judge, which of the following courses of action should you take?
• 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:
• 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?
• A, B and C formed a partnership with C contributing an immovable, but no inventory of such immovable was attached to the contract. Is the contract valid?
• A & B are married. They have properties and they are governed by the conjugal partnership of gains. They negotiated for the sale of one (1) of their properties to C, but when the signing of the contract came, B did not consent to the sale. During the negotiation, they delivered the property to C. Is the sale valid?
• Every contract of partnership having a capital of three thousand pesos or more, in money or property, shall appear in a public instrument, which must be recorded in the Office of the Securities and Exchange Commission. Failure to comply with this requirement;
• Every contract of partnership having a capital of three thousand pesos or more, in money or property, shall appear in a public instrument, which must be recorded in the Office of the Securities and Exchange commission. Failure to comply with this requirement;
• 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?