Scribd
Upload
4K views1 page

Partnership Validity and Requirements Explained

The document discusses several questions regarding the formation and validity of partnerships under Philippine law: 1) A partnership formed with a total capital contribution of 30,000 pesos that is not registered with the SEC would still have a juridical personality since failure to comply with registration requirements does not prevent partnership formation. 2) A partnership that only agrees to share profits but not losses would not be considered a valid partnership. 3) A partnership formed for the purpose of promoting social and religious ends would not prevent its valid creation under Article 1767 of the Civil Code. 4) An orally formed partnership contract that was not put in writing or signed by the partners would still be considered valid, as partnerships can

Uploaded by

Anonymous t1lbUug0A
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
4K views1 page

Partnership Validity and Requirements Explained

The document discusses several questions regarding the formation and validity of partnerships under Philippine law: 1) A partnership formed with a total capital contribution of 30,000 pesos that is not registered with the SEC would still have a juridical personality since failure to comply with registration requirements does not prevent partnership formation. 2) A partnership that only agrees to share profits but not losses would not be considered a valid partnership. 3) A partnership formed for the purpose of promoting social and religious ends would not prevent its valid creation under Article 1767 of the Civil Code. 4) An orally formed partnership contract that was not put in writing or signed by the partners would still be considered valid, as partnerships can

Uploaded by

Anonymous t1lbUug0A
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

1.) X,Y,Z formed a partnership to which they contributed a total capital of 30,000.

The partnership is not registered with the Securities and Exchange Commission.
Does the partnership have a juridical personality?
*There are two requirements where the capital of the partnership is
3,000 or more, (1) the contract must appear in public instrument and
(2) It must be recorded or registered with the securities and
exchange commission, However failure to comply with the
requirement does not prevent the formation of partnership, hence
the partnership still have a juridical personality.
2.) The partnership agreed on the sharing of profits but no losses. Is there a valid
partnership?
3.) Among the purpose of the partnership is the promotion of social and religious
ends. Will this prevent the creation of a valid partnership in view of article 1767?
4.) The partnership was orally formed without the contract being put in writing
signed by the partners. Is the contract of partnership valid.
* Yes, the contract is valid because under the general rule, a
partnership may be formed orally regardless of the value of the
contributions unless immovable property or real rights are
contributed, in which case requires execution of a public instrument.
5.) N donated a condominium unit to X,Y and Z who agreed among themselves to
lease it to W and share in the rentals. Are X,Y, and Z partners?

You might also like