Emmanuel R.

Merto
AIS3A
ACC116
Asynchronous Task no. 1: Partnership

1. Choose any of 2 characteristics of a contract of partnership which were discussed in the

module. Give an example of the characteristics you have chosen.

- Consensual – perfected by mere consent / there must be a meeting of the minds.

Example: Merto agreed in the contract to Architect A to build his dream house.

- Bilateral – Formed by two or more person creating reciprocal rights and obligation
Example: Laiza agreed that Emman will buy her Car in exchange of P1M. Laiza promise
to provide Emman the car in exchange for the money. Emman promise to provide Money
to laiza in exchange for Car. This makes the contract bilateral because both of them
agreed on the conditions and terms.

2. What are essential requisites of partnership

- There must be a valid contract – There must be a meeting of the minds to make the
contract valid
- Parties must have legal capacity to enter into a contract – meaning a person that entering
in the contract must be in a legal age in order it to be valid.
- There must be mutual contribution of money, property, or industry to a common fund – it
means that all of you must contribute its either money, property or skill to build a
partnership
- The object must be lawful – meaning the object shouldn’t be contrary to law, morals,
good customs, public order or public policy otherwise no partnership can arise as the
contract is void.
- The primary purpose must be to obtain profits and to divide the same among the parties –
meaning the very reason why there is a partnership is to gain profit and divide it equally
to the parties.
3. Distinguish between a Business partnership and Professional partnership.

- Professional partnership is partnership that formed by persons for the purpose of

exercising their common profession. Example is a partnership formed by the lawyer,
architects, engineer and other skilled person. While on the other hand, Business
partnership formed by people who are generating profits in exchange of goods, while the
Professional Partnership they generate profits using their skills or services.
 4. If you were to establish a partnership, which of the 2 types above will you choose?
Explain.

- For me if I were to establish a partnership ill choose the Business Partnership because I
think I can’t be a professional like accountants or lawyer and I am more into products and
foods when it comes to business and lastly for me this is where I belong in a business
partnership because im planning to have my own restaurant or a clothing brand someday.

5. Which do you think is more difficult to manage a business partnership or a professional

partnership? Explain.

- I think it is hard to manage a professional partnership because you need to be on hand in

your business for example If your professional business is an architect and engineer firm,
if someone hire your company you also need to be in the site in order for you to know the
progress of the house or building, you can’t just let the managers do your work because if
they commit mistake you will be the one that gets all the blame unlike in business
partnership you can just say to your managers to manage that because its not that hard
enough specially if the business is clothes or garments because of the machineries.

Case Study:
Case: Marjorie Tocao and William Ty vs Court of Appeals and Nenita T. Anay G.R. No. 127405
October 4, 2000
1. How was partnership formed?

- The partnership was formed when William Belo introduced Nenita T. Anay to petitioner /
His Girlfriend Majorie Tocao that conveyed here desire to enter into a joint venture for
the importation and local distribution of Kitchen Cookwares and the Three of them
agreed in this set up.

2. Was the concept of delectus personarum discussed in the case? How was it discussed?

- Yes, in this case the concept of delectus personarum was being discussed. Delectus
personarum is the selection of a person satisfactory to oneself for a position involving
trust and confidence in the other’s character, capacities or responsibilities. In this case
when William Belo recommend Nenita T. Anay to her Girlfriend Marjorie Tocao because
of her experience and expertise in the enterprise and after that Marjorie Tocao dismissed
Nenita T. Anay that she will not be part of the Business.

3. Did the court impose damages? If so to whom?

- The court impose damages and they impose it to the petitioner, Majorie Toca and
William Belo. The appealed decisions of the regional trial court and the court of appeals
are affirmed and modifications, as follows where in the court listed the following
damages that the petitioner will pay and it clearly says in No.4 Petitioners are ordered,
jointly and severally to pay private respondent and DAMAGES in the amount of 50,000,
exemplary DAMAGES in the amount of 50,000, and attorney’s fee in the amount of
25,000.