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    Property Transcribed

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    Leona Jean Villanueva
    1) A partnership is formed by contract where two or more people agree to contribute money, property, or skills to a common fund and share profits. 2) For a partnership contract to exist, there must be agreement to contribute to a common fund and to divide any profits. 3) Partnership always arises from a contract, whether explicit or implied, and requires mutual consent between the partners.

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    Property Transcribed

    Uploaded by

    Leona Jean Villanueva
    21 views1 page
    1) A partnership is formed by contract where two or more people agree to contribute money, property, or skills to a common fund and share profits. 2) For a partnership contract to exist, there must be agreement to contribute to a common fund and to divide any profits. 3) Partnership always arises from a contract, whether explicit or implied, and requires mutual consent between the partners.

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    1) A partnership is formed by contract where two or more people agree to contribute money, property, or skills to a common fund and share profits. 2) For a partnership contract to exist, there must be agreement to contribute to a common fund and to divide any profits. 3) Partnership always arises from a contract, whether explicit or implied, and requires mutual consent between the partners.

    Copyright:

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

    Property Transcribed

    Uploaded by

    Leona Jean Villanueva
    1) A partnership is formed by contract where two or more people agree to contribute money, property, or skills to a common fund and share profits. 2) For a partnership contract to exist, there must be agreement to contribute to a common fund and to divide any profits. 3) Partnership always arises from a contract, whether explicit or implied, and requires mutual consent between the partners.

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    Atty. Rabuya: What is partnership?

    Ate: By contract of partnership, two or Ate: yes sir


    more person bind themselves to contribute
    money, property, or industry with the Atty. Rabuya: ok. What are the
    intention of dividing the profits among characteristics of the contract of
    themselves. partnership?

    Atty. Rabuya: For a contract of partnership Ate: It must be consensual


    exist, what are the requirements?
    Ate: (1) agreement to contribute to a Atty. Rabuya: Consensual? What does that
    common fund; (2) agreement to divide the mean?
    profit. Both must concur otherwise there is Ate: that there must be meeting of the
    no contract of partnership. minds between/among those who
    contributed money, property, or industry.
    Atty. Rabuya: Is partnership always by
    reason of contract? Atty. Rabuya: teka, pag sinabi kasi nating
    Ate: Yes. Considering that a contract of contract there is always meeting of mind,
    partnership ok? But pag sinabi nating consensual what
    does that mean? Isn’t it that consensual is
    Atty. Rabuya: May it possible for a from the point of view of perfection of
    partnership to exist in the absence of contract?
    agreement in the absence of consent with Ate: ahh yes sir.
    the two requirements mentioned above?
    Ate: No. because it is a consensual contract. Atty. Rabuya: Alright, so explain the
    contract of partnership from the point of
    Atty. Rabuya: is there partnership by reason view of its perfection. How does it come to
    of other sources other than contract? existence?
    Ate: Yes. Partnership by estoppel. Ate: sir it comes into existence when
    those two or more person contribute
    Atty. Rabuya: Explain to us what is that money, property, or industry to a common
    Partnership by estoppel? fund.
    A:
    Atty. Rabuya: Pinag aralan natin there are
    Atty. Rabuya: Does the concept of two ways in giving birth to a contract
    partnership by estoppel presupposes the
    existence of a partnership? Or pwede ba
    tayo magkaroon ng partnership by estoppel
    even in the absence of partnership and
    lahat sila will be partners by estoppel,
    pwede bang ganun?

    Ate: No sir. There must be a partnership in


    the first place.

    Atty. Rabuya: So that concept also


    presupposes the existence of a partnership?

    Ate: yes sir.

    Atty. Rabuya: and it is only a person who


    may become a partner of an existence
    partnership by estoppel? Parang ganon?

    Ate: opo

    Atty. Rabuya: Hindi tayo pwede magkaroon


    ng partnership na the partnership will be
    created not by reason of contract?

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