Define pro-rata liability.

"A", "B" and "C" are partners in a partnership which owns a parcel of land. Can "A" transfer his right as a partner to said property to "B"? Why? or why not?

"C" has been a creditor of the partnership for several years. On February 28, the partnership was dissolved. On March 2, "C" extended another credit to the partnership without knowing that the partnership is already dissolved. A partner can be relieved from liability on the ground of dissolution? True False

ABC partnership with an outstanding obligation of P100,000 pesos was dissolved when "D" was admitted as a new partner to the partnership. After "D"s admission, the partnership incurred an additional obligation of P100,000.00 pesos. The partnership was dissolved due to insolvency leaving an obligation of P200,000 pesos with total assets remaining at P100,000 pesos. How will the partners settle the obligation?

"A", "B" and "C" formed a partnership with a term of 10 years. On the fifth year, "A" sold his entire interest in the partnership to "D". The conveyance terminates the partnership. True False