Ronaldo R.

Dio
HRDM III-B

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 the profits they may acquire therewith.

A universal property of all present property

-          one which comprises all that the partners may acquire by their industry or work during the
existence of the partnership and the usufruct of movable or immovable property which each of
the partners may possess at the time of the celebration of the contract.
·         The following become common property of all the partners:
1.        property which belonged to each of them at the time of the construction of the partnership
2.        profits which they may acquire from the property contributed
 
·         Property which the partners may acquire subsequently by inheritance, legacy or donation
cannot be included for the stipulation for common enjoyment
·         Fruits thereof may be included