Question: Anyone could you please help me with this one? STI BM1905 QUIZ ON LIMITED PARTNERSHIP NAME: SECTION: DATE: SCORE: QUESTIONS: 1. A, B, and C
Anyone could you please help me with this one?

STI BM1905 QUIZ ON LIMITED PARTNERSHIP NAME: SECTION: DATE: SCORE: QUESTIONS: 1. A, B, and C are general partners with D as limited partner. The total assets of the partnership amount to P200,000. The partnership owes D P50,000 and E, a third party creditor, P250,000. Can D receive his claim of P50,000? Explain and justify. Answer: 2. After operating for some time as a limited partnership, X & Co., composed of A, B, and C, as general partners, who contributed P30,000 each and D and E, as limited partners, who contributed P20,000 each, has a total assets of P150,000 and the following liabilities: (1) For return of contributions of limited partners (D and E) P40,000 (2) Due to third party credits 50,000 (3) For loan extended by C 25,000 (4) For loan extended by D 35,000 (5) For taxes 15,000 (6) For indemnity to B for damages suffered in consequence of management 5,000 TOTAL P170,000 May E legally demand the return of his contribution, assuming that all the partners have given their consent and are willing to have the certificate amended as to set forth the withdrawal
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