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Outline
1. Partnership name; importance
and liability;
2. Illustration: partnership of A, B
and C contributed 50k each;
exhaustion
of
partnership
assets;
3. Difference between profits and
losses;
Sir: Why should one have a name?
Student: Since a partnership has a
separate
and
distinct
juridical
personality of its own, then it is
important that it should have its own
name so that third parties can sue the
partnership itself as distinguished
from the partners themselves.
Student:
because
LIABILITIES sir.
these
are
Credits:
Montecillo
Osorio
Timtim
Omar
Maylon
Barcenas
Uy
Bangis
Lescabo
Canda
Omar
Tatad