Themba,
Philip, and Sophy want to start a business. They agree that Themba and Philip
will each contribute R50,000, while Sophy will contribute R80,000. They want to
operate their business as a partnership but are unsure about their duties and
rights as partners.

Which
ONE of the following statements regarding the rights and duties of
partners is CORRECT ?

Question

Themba,
Philip, and Sophy want to start a business. They agree that Themba and Philip
will each contribute R50,000, while Sophy will contribute R80,000. They want to
operate their business as a partnership but are unsure about their duties and
rights as partners.

Which
 ONE  of the following statements regarding the rights and duties of
partners is  CORRECT ?

Accepted Answer

If
one of the partners fails to deliver his or her contribution to the partnership
the other partners may use the  actio pro
socio  to force him or her to deliver such contribution.

Answer

The
partners may use the assets of the partnership for personal aims.

Answer

Each partner is entitled to share equally in the profits of the
partnership.

Answer

Each
partner is entitled to participate in the management of the partnership in
proportion to the contribution he or she made to the partnership.

Crowdly

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