ATP Flashcards
Me
Mere co-ownership not partnership
intent and contribution
Perfected by mere consent, There is meeting of the minds between the parties then it is perfected
It is a settled rule that when a partner who has undertaken to contribute a sum of money fails to do so, he becomes a debtor of the partnership for whatever he may have promised to contribute. Under what article?
It is a settled rule that when a partner who has undertaken to contribute a sum of money fails to do so, he becomes a debtor of the partnership for whatever he may have promised to contribute
(Partnership) Under the provisions of Civil code it should be in writing whenever it exceeds ?
3000 pesos
This is ony for business purposes or taxation purpose, so hinde talaga siya void
Time where the parnership should be in writing, Public instrument?
if there is a contribution of real property to the partnership that is the time that you really need in writing
Article 1771. A partnership may be constituted in any form, except where immovable property or real rights are contributed thereto, in which case a public instrument shall be necessary. (1667a)
Article 1776. As to its object, a partnership is either
As regards the liability of the partners, a partnership may be (1671a)
Universal or Particular.
General or Limited.
What is Universal Partnership
It require the partners to contribute all their properties ( which actually belongs to them) intention of the parties
Article 1777. A universal partnership may refer to all the present property or to all the profits. (1672)
Article 1778. A partnership of all present property is that in which the partners contribute all the property which actually belongs to them to a common fund, with the intention of dividing the same among themselves, as well as all the profits which they may acquire therewith. (1673)
Article 1779. In a universal partnership of all present property, the property which belonged to each of the partners at the time of the constitution of the partnership, becomes the common property of all the partners, as well as all the profits which they may acquire therewith.
A stipulation for the common enjoyment of any other profits may also be made; but the property which the partners may acquire subsequently by inheritance, legacy, or donation cannot be included in such stipulation, except the fruits thereof. (1674a)
Article 1780. A universal partnership of profits comprises all that the partners may acquire by their industry or work during the existence of the partnership.
Movable or immovable property which each of the partners may possess at the time of the celebration of the contract shall continue to pertain exclusively to each, only the usufruct passing to the partnership. (1675)
Distinguished Universal partnership of all present property and Universal parnership of all profits
Universal partnership of all present property- profits derived from the properties being contributed belongs to the partnership
Who owns the property? Partnership
A stipulation for the common enjoyment of any other profits may also be made; but the property which the partners may acquire subsequently by inheritance, legacy, or donation cannot be included in such stipulation, except the fruits thereof. (1674a)
Universal partnership of all profits - Naked ownership of the property being contributed still belongs to them. Industry or work lang
Who ows the property? Only the usufruct passes through the partnership.
All profits acquired by industry or work shall belong to partnership. Industry or work lang yan
Article 1780. A universal partnership of profits comprises all that the partners may acquire by their industry or work during the existence of the partnership.
Movable or immovable property which each of the partners may possess at the time of the celebration of the contract shall continue to pertain exclusively to each, only the usufruct passing to the partnership. (1675)
Article 1782. Persons who are prohibited from giving each other any donation or advantage cannot enter into universal partnership. (1677)
HInde pwede magenter ang mga ito sa partnership
Guilty of Concubinage and adultery. Husband and wife.
Article 1784. A partnership begins from the moment of the execution of the contract, unless it is otherwise stipulated. (1679)
Mutual Desire and consent of the partners
Article 1782. Persons who are prohibited from giving each other any donation or advantage cannot enter into universal partnership. (1677)
Particular Partnership
