1774

Acquisition or conveyance must be in partnership name

1775

Secret Partnership have no juridical personality. YOU HAVE TO DECLARE YOU’RE A PARTNERSHIP. Law
on Co-ownership

1776 Kinds of Partnership

1. Universal & Particular

Husband and Wife cannot create universal but can create particular partnership.

Universal – very broad, no specific purpose mentioned

Particular – specific purpose mentioned

2. General & Limited

General – lahat liable

Limited – no liable separate property

3. At will & Fixed

At will – walang period

Fixed – may period

4. De Jure & De Facto

De Jure (In law) – lahat requirements

complied
De Facto (In fact) – hindi lahat

5. Ordinary/Real & Ostensible/Estoppel

Ordinary/Real – valid
Ostensible/Estoppel – hindi tunay

6. Secret/Open

Secret – not known in the public

Open – declared

7. Commercial & Professional

Commercial – trading business

Professional – non-trading, exercise of a profession

Kinds of Partners

8. Capitalists & Industrial

C – Money, property
I – Services

9. General & Limited

G – Liable sa separate property
L – not liable

10. Subpartner & Substituted Limited Partner

Sub – not a partner

SLP – partner

11. Silent & Managing & Liquidating

S – hindi nagmamanage
M – nagmamanage
L – nagmamanage at the time of dissolution

Kilala Manage

Ostensible / /
Secret x /
Silent / x
Dormant x x

*at the time of dissolution, dormant is not liable