Quiz on Deductions from

Gross Estate
Instructions: True or False. Read the
questions carefully. 10 seconds is
allocated to answer each number.

11/20/15

1
2
3
STAR
T

1. A contract of partnership is
Onerous because it does not
depend for its existence or
validity upon some other
contract.

2. The purpose or primary

purpose of Partnership is to
obtain profits only.

3.
One of the effects of a
partnership formed for an
unlawful purpose is that the
profits shall be confiscated in
favor of the government.

4.
Immovable properties
cannot be acquired in the
partnership name.

5. A Secret Partnership may

contract in its own name with
third persons.

6.
A Limited Partnership is
formed when all the members
are limited partners.

7. An Industrial Partner is one

who
contributes
money,
industry, and personal service.

8. As a general rule, future

properties
cannot
be
contributed.

9.
A husband and wife are
prohibited from entering into a
partnership.

10. A Universal Partnership of

All Present Property is one
which comprises all that the
partners may acquire by their
industry or work during the
existence of the partnership.

10. A Universal Partnership of

All Present Property is one
which comprises all that the
partners may acquire by their
industry or work during the
existence of the partnership.

End of quiz
Answers to follow

Answers
F
2. F
3. T
4. F
5. F
6. F
7. F
8. T
9. F
10. T
1.