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Partner Obligations in Business Law

The document discusses the obligations of partners in a partnership contract. It presents 8 rules using pictures as visual aids. Rule 1 implies the partners have an obligation to contribute capital as agreed. Rule 2 shows the partnership commencement date and signatures of partners to the agreement. Rule 3 indicates partners have an obligation to share losses. Rule 4 depicts an obligation to share profits based on capital contribution. Rule 5 distinguishes obligations of contributing and non-contributing partners. Rule 6 states the general rule that share of profits is based on capital contribution. Rule 7 addresses inventory valuation and articles of partnership. Rule 8 poses a question regarding interest accrual on late capital contributions.

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64 views8 pages

Partner Obligations in Business Law

The document discusses the obligations of partners in a partnership contract. It presents 8 rules using pictures as visual aids. Rule 1 implies the partners have an obligation to contribute capital as agreed. Rule 2 shows the partnership commencement date and signatures of partners to the agreement. Rule 3 indicates partners have an obligation to share losses. Rule 4 depicts an obligation to share profits based on capital contribution. Rule 5 distinguishes obligations of contributing and non-contributing partners. Rule 6 states the general rule that share of profits is based on capital contribution. Rule 7 addresses inventory valuation and articles of partnership. Rule 8 poses a question regarding interest accrual on late capital contributions.

Uploaded by

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

Republic of the Philippines

CAMARINES NORTE STATE COLLEGE


F. Pimentel Avenue, Brgy. 2, Daet, Camarines Norte – 4600, Philippines

COLLEGE OF BUSINESS AND PUBLIC ADMINISTRATION

Topic II - Obligations of the Partners


AE 107 – Business Laws and Regulations
BSA 2

Direction: The following pictures denote the obligations of partners in a Partnership contract.
Establish the rule being implied by the pictures and make a coherent explanation. (Inspired
by Joshua haha)

Rule #1:

CNSC-SP-QMS-05F3 Page 1 of 8
Revision: 0
Republic of the Philippines
CAMARINES NORTE STATE COLLEGE
F. Pimentel Avenue, Brgy. 2, Daet, Camarines Norte – 4600, Philippines

COLLEGE OF BUSINESS AND PUBLIC ADMINISTRATION

Topic II - Obligations of the Partners


AE 107 – Business Laws and Regulations
BSA 2

Rule #2:

This partnership shall commence


on October 1, 2023.

SIGNED: 09/25/23
Malou
Manay
Juag
Phet

CNSC-SP-QMS-05F3 Page 2 of 8
Revision: 0
Republic of the Philippines
CAMARINES NORTE STATE COLLEGE
F. Pimentel Avenue, Brgy. 2, Daet, Camarines Norte – 4600, Philippines

COLLEGE OF BUSINESS AND PUBLIC ADMINISTRATION

Topic II - Obligations of the Partners


AE 107 – Business Laws and Regulations
BSA 2

Rule #3:

CNSC-SP-QMS-05F3 Page 3 of 8
Revision: 0
Republic of the Philippines
CAMARINES NORTE STATE COLLEGE
F. Pimentel Avenue, Brgy. 2, Daet, Camarines Norte – 4600, Philippines

COLLEGE OF BUSINESS AND PUBLIC ADMINISTRATION

Topic II - Obligations of the Partners


AE 107 – Business Laws and Regulations
BSA 2

Rule #4:

CNSC-SP-QMS-05F3 Page 4 of 8
Revision: 0
Republic of the Philippines
CAMARINES NORTE STATE COLLEGE
F. Pimentel Avenue, Brgy. 2, Daet, Camarines Norte – 4600, Philippines

COLLEGE OF BUSINESS AND PUBLIC ADMINISTRATION

Topic II - Obligations of the Partners


AE 107 – Business Laws and Regulations
BSA 2

Rule #5:
Partnership Noncontributing
Partner

Noncontributing
Partner
Contributing

Partners

CNSC-SP-QMS-05F3 Page 5 of 8
Revision: 0
Republic of the Philippines
CAMARINES NORTE STATE COLLEGE
F. Pimentel Avenue, Brgy. 2, Daet, Camarines Norte – 4600, Philippines

COLLEGE OF BUSINESS AND PUBLIC ADMINISTRATION

Topic II - Obligations of the Partners


AE 107 – Business Laws and Regulations
BSA 2

Rule #6:
GENERAL RULE:

Partner’s Partner’s
Contribution Share in
Profits

CNSC-SP-QMS-05F3 Page 6 of 8
Revision: 0
Republic of the Philippines
CAMARINES NORTE STATE COLLEGE
F. Pimentel Avenue, Brgy. 2, Daet, Camarines Norte – 4600, Philippines

COLLEGE OF BUSINESS AND PUBLIC ADMINISTRATION

Topic II - Obligations of the Partners


AE 107 – Business Laws and Regulations
BSA 2

Rule #7:

Inventory
Subject
to
Appraisal
Articles of
Partnership
Current Prices

CNSC-SP-QMS-05F3 Page 7 of 8
Revision: 0
Republic of the Philippines
CAMARINES NORTE STATE COLLEGE
F. Pimentel Avenue, Brgy. 2, Daet, Camarines Norte – 4600, Philippines

COLLEGE OF BUSINESS AND PUBLIC ADMINISTRATION

Topic II - Obligations of the Partners


AE 107 – Business Laws and Regulations
BSA 2

Rule #8:

When should I accrue interest? On judicial


demand, on extra judicial demand or on
the day he promised to contribute?
WAAAAAH

CNSC-SP-QMS-05F3 Page 8 of 8
Revision: 0

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