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Problems 2 de Vera

1. On July 25, 1984 LJ, Cary and Jess formed a partnership called "Aqua Food House and Catering Services" with capital of P750,000. Don later joined as a partner on September 5, 1984 contributing P250,000. Jess withdrew from the partnership on January 15, 1987 and was refunded his P250,000 contribution. The partnership was dissolved on this date with Jess' withdrawal. 2. X and Y were partners in a portrait painting shop. Client Ina paid P50,000 for a portrait but artist X passed away before completing it. Ina cannot demand the portrait from Y as the partnership dissolved upon X's death. 3. Partners A

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Joelo De Vera
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429 views2 pages

Problems 2 de Vera

1. On July 25, 1984 LJ, Cary and Jess formed a partnership called "Aqua Food House and Catering Services" with capital of P750,000. Don later joined as a partner on September 5, 1984 contributing P250,000. Jess withdrew from the partnership on January 15, 1987 and was refunded his P250,000 contribution. The partnership was dissolved on this date with Jess' withdrawal. 2. X and Y were partners in a portrait painting shop. Client Ina paid P50,000 for a portrait but artist X passed away before completing it. Ina cannot demand the portrait from Y as the partnership dissolved upon X's death. 3. Partners A

Uploaded by

Joelo De Vera
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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1.

On 25 July 1984, LJ, Cary and Jess formed a partnership with a capital of P750,000 to
operate restaurant and catering business under the name “Aqua Food House and Catering
Services”. LJ was appointed general manager and Cary operations manager.
▪ Don joined as a partner in the business on 05 September 1984. His capital
contribution was P250,000.
▪ After Jess withdrew from the partnership on 15 January 1987, his capital
contribution of P250,000 was refunded to him in cash by agreement of the partners.
▪ On 14 Feb. 1987, the restaurant “closed down” without Don’s knowledge. Upon
the said closure, Don demanded the return of his capital contribution of P250,000.
▪ A. When was the partnership dissolved? Why? (5 points)
▪ B. Is it possible for Don to be entitled for the P250,000 as his capital
contribution? Why or why not (5 points)

A.) The partnership was dissolved upon the departure or withdrawal of Jess on
January 15, 1987.
B.) In General, It is possible for Don to acquire the said amount but only after
settling the partnerships liability and then tend to the partners, but the amount
to be returned must be limited to the partnerships total resources.
But it is also NO, if the partnership is incapable to pay.

Articles Involved:

Articles
1828-1831
1839

2. X and Y are partners in a shop offering portrait painting. Y provided the capital and the
marketing, while X was the portrait artist. They accepted the P50,000.00 payment of Ina
to do her portrait but X passed away without being able to do it.
▪ Can Ina demand that Y deliver the portrait she had paid for because she was
dealing the with business establishment and not with the artist personally? Why or why
not?

No, Kyla cannot demand the portrait from Y. Since the death of X has the effect
of dissolving the partnership. Since X died before creating the portrait, the
obligation can no longer be accomplished

Articles involved:
Article 1830
Article 1266

3. A, B and C formed a partnership for the purpose of contracting with the Government in
the construction of one of its bridges. On June 30, 1992, after completion of the project,
the bridge was turned over by the partners to the Government. On August 30, 1992, D, a
supplier of materials used in the project sued A for collection of the indebtedness to him.
A moved to dismiss the complaint against him on the ground that it was the ABC
partnership that is liable for the debt. D replied that ABC partnership was dissolved upon
completion of the project for which purpose the partnership was formed.

▪ Who among A and D is correct? (5 points)


D is correct, and that despite the dissolution of the partnership the liability is still
to be settled.
Articles involved:
1816
1829
1830

4. X, Y and Z formed a partnership with a capital of P100,000, X contributing 50% of the


capital, Y 30%, and Z 20%. A, a creditor who has a claim of P200,000 against the
partnership, filed a case to collect his claim.

▪ Whose assets are liable to satisfy the debt, and explain the extent of liability of
X, Y and Z. Cite the applicable provision.

The settling of the dept will be according to the partners capital contribution
unless there is a stipulation.

Articles involved:
1797

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