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Partnership by Atty. Uribe
Partnership by Atty. Uribe
5/13/2011
Civil Law
Definition
1989 Bar Exam Question No. 9(2)
PARTNERSHIP
Ba
r
Ba
bl
es
es
an
Partnership
bl
17%
Ba
Property Rights
an
50%
bl
es
o
bl
an
Essential Elements
1994 Bar Exam Question No. 5 (1)
Definition
1989 Bar Exam Question No. 9(2)
an
Ba
es
Dissolution
33%
c.
d.
1
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Essential Elements
1994 Bar Exam Question No. 5 (2)
2)
Ba
r
10
Ba
bl
es
an
c.
bl
11
es
Classification of Partners : According to their contribution
o
bl
an
Ba
d.
Ba
b.
es
a.
bl
h
C
es
an
an
12
2
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Ba
r
16
Ba
bl
es
13
an
c.
es
d.
bl
14
17
es
Property Rights :
Right to Participate in the Management of the Business
o
bl
an
Ba
b.
Ba
a.
bl
es
an
an
18
3
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Property Rights :
Right to Participate in the Management of the Business
Property Rights :
Right to Participate in the Management of the Business
b.
c.
d.
Ba
r
a.
d.
22
Ba
bl
es
19
Power to revoke
n/a
2. Solidary
Management
- 2 or more
Art. 1801
Majority of the
managing
partners.
Partners owning
the
controlling
Interest.
3. Joint Management
- 2 or more
Art. 1802
Not valid
4. Partners as agents
Art. 1803
Still binding
upon the
partnership.
n/a
es
In case of tie
Managers
decision
prevails.
Kind of
Contribution
2. Property
1. ownership
- to deliver & transfer ownership
- to warrant the thing
- liable for the fruits
Risk of Loss
- before delivery
- after delivery
2. use only
-to deliver
Risk of Loss Art. 1795
Partner unless:
1. fungible
2. cannot be kept without deteriorating
3. contributed to be sold
4. appraised in the inventory
1. Specific Performance
2. Dissolution
- to render service
1. Specific Performance
2. Dissolution
3. Rescission? Art. 1838
amount promised
interest 12% unless
damages (Art. 1788)
Remedies
1.
2.
3.
Ba
es
bl
3. Industry
20
es
o
bl
an
Property Rights :
Right to Participate in the Management of the Business
an
Ba
1. Money
an
&
Remedies
bl
If opposed
1. 1Manager
Art. 1800
Kind of Management
an
21
24
4
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Ba
r
28
an
Ba
bl
es
25
es
Ba
es
bl
26
29
c.
d.
27
In contravention of the
agreement
(a) supervening
illegality
an
a.
b.
Involuntary
(Pars. 3-7)
es
Partnership
Causes of Dissolution
Dissolution : Death
1997 Bar Exam Question No. 17(b)
o
bl
an
Ba
d.
b.
c.
an
a.
bl
Judicial
(Art. 1831)
Voluntary
A.
On application by or for a
partner
(1) insanity
(2) incapacity
(3) gross misconduct
(4) willful or persistent breach
(5) The business of the
partnership can only be
carried on at a loss;
(6) Other circumstances render a
dissolution equitable.
B. On the application of the
purchaser of a partner's
interest under article 1813
or 1814:
(1) After the termination of the
specified term or
particular undertaking;
(2) At any time if the partnership
was a partnership at will
when the interest was
assigned or when the
charging order was
30issued.
5
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