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    Matrix Corp and Partnership

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    Hazel Onahon
    The document outlines similarities and differences between partnerships and corporations, noting that both have legal personalities separate from individuals, can act through agents, and are composed of individuals. However, partnerships involve unlimited liability for general partners, no right of succession, and non-transferability of interests, while corporations have limited liability, perpetual existence, and transferability of interests. The matrix also compares how each is formed, contributions, decision-making structures, and profit/loss sharing.

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    Matrix Corp and Partnership

    Uploaded by

    Hazel Onahon
    99 views1 page
    The document outlines similarities and differences between partnerships and corporations, noting that both have legal personalities separate from individuals, can act through agents, and are composed of individuals. However, partnerships involve unlimited liability for general partners, no right of succession, and non-transferability of interests, while corporations have limited liability, perpetual existence, and transferability of interests. The matrix also compares how each is formed, contributions, decision-making structures, and profit/loss sharing.

    Original Title

    MATRIX CORP AND PARTNERSHIP

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    The document outlines similarities and differences between partnerships and corporations, noting that both have legal personalities separate from individuals, can act through agents, and are composed of individuals. However, partnerships involve unlimited liability for general partners, no right of succession, and non-transferability of interests, while corporations have limited liability, perpetual existence, and transferability of interests. The matrix also compares how each is formed, contributions, decision-making structures, and profit/loss sharing.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    99 views1 page

    Matrix Corp and Partnership

    Uploaded by

    Hazel Onahon
    The document outlines similarities and differences between partnerships and corporations, noting that both have legal personalities separate from individuals, can act through agents, and are composed of individuals. However, partnerships involve unlimited liability for general partners, no right of succession, and non-transferability of interests, while corporations have limited liability, perpetual existence, and transferability of interests. The matrix also compares how each is formed, contributions, decision-making structures, and profit/loss sharing.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    BARBARA HAZEL V.

    ONAHON February 9, 2021

    MATRIX OF DIFFERENCES AND SIMILARITIES OF


    PARTNERSHIP AND CORPORATION

    PARTNERSHIP SIMILARTIES OF CORPORATION


    CORPORATION AND
    *Civil Code *Revised Corporation
    PARTNERSHIP
    Code
    *Created by mere agreement *Both have juridical
    of two or more. *Created by law or by
    personality separate operation of law
    *General Partner has and distinct from that
    unlimited liability the individuals *Limited liability
    composing them. *One or more person
    *Two more persons who can
    enter. who can enter.
    *Partnership and
    *Allowed practice of corporation can act *Does not allow for
    profession. only through agents. practice of profession.

    *Can contribute cash, *Both are *Can contribute cash or


    property and service. Each organizations property. Shareholders
    partner must contribute can contribute how
    composed of an
    equal shares unless much they want.
    aggregate of
    stipulated.
    individuals. *Perpetual existence
    *The term depends on what unless the Articles of
    is agreed the partners. If Incorporation say
    silent, partnership lasts until otherwise.
    partner die. If there is a fixed
    term and existence is *Right of Succession
    extended beyond the agreed can be applied.
    upon term, rights and duties *Board of Directors and
    remain the same for all trustees are in-charge of
    partners. decision making.
    *There’s no right of *Sharing of
    succession. profits/losses, if
    *All partners are in-charge of dividends are given to
    decision making. shareholders, they get
    the amount
    *Sharing of profits/losses corresponding to the
    depends in what they have percentage they own in
    contributed unless stipulated the corporation.
    otherwise.
    *Transferability of
    *Transferability of Interest Interest can be applied.
    cannot be applied.
    *Artificial being created
    *Two or more persons bind by operation of law.
    themselves to contribute
    money, property or industry
    to a common fund.

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