TRUE OR FALSE

1. A partnership may be constituted in any form, save when immovable property or real rights are contributed thereto or when the partnership has a capital of below P3,000.00, in which case a public instrument shall be necessary.*
2. After dissolution, a partner can still bind the partnership.*
3. An industrial partner can engage in business for himself. *
4. The partners do not contribute equal shares to the capital of the partnership.*
5. Associations and societies, whose articles are kept secret among the members, and wherein any one of the members may contract in his own name with third persons, shall also have juridical personality.*
6. Where title to real property is in the partnership name, any partner may convey title to such property by a conveyance executed in the partnership name. *
7. Where title to real property is in the name of the partnership, a conveyance executed by a partner, in his own name, passes the equitable interest of the partnership.*
8. The partnership books shall be kept, in the absence of any agreement between the partners, at the domicile of any of the managing partners. *
9. Every partner shall not have access to and may not inspect and copy any of them without the consent of any of the managing partners.*
10. In partnership, there is co-ownership and co-possession of partnership property.*
11. Co-ownership or co-possession does not itself establish a partnership , except when such co-ownership or co-possession share in the profits made by the use of the property.*
12. The capitalist partners are free engage for their own account in any operation which is of the kind of business in which the partnership is engaged. *
13. Any capitalist partner, who engages for his own account in any operation which is of the kind of business in which the partnership is engaged, shall bring to the common funds any profits accruing to him from his transactions, and shall personally bear all the losses.*
14. Where an immovable property is contributed in a partnership, a private instrument shall be necessary.*
15. If a person receives a share in the profits of a business, he is prima-facie presumed to be a partner in business.*
16. A partner cannot be obliged to contribute additional share to the capital in case of an imminent loss of the business of the partnership. *
17. If a partner authorized to manage collects a demandable sum which was owed to him in his own name, from a person who owed the partnership another sum also demandable, the sum thus collected shall be applied to the two credits in proportion to their amounts, even though he may have given it for the account of the partnership credit.*

COUNTRY: PHILIPPINES