ABDUL, SHERENE M.

BSA 2

1. X,Y,Z formed a partnership to which they contribute a total capital of 30,000. The
partnership is not registered with the Securities and Exchange Commission. Does the
partnership have a juridical personality?

 Where the partnership’s capital is 3,000 or more, there two requirements: (1) The
contract must appear in a public instrument, and (2) it must be recorded or
registered with the Securities and Exchange Commission. Failure to meet either of
these requirements does not prevent the partnership retains its legal personality.

2. Same Partnership. The Partners agreed on the sharing of profits but no losses. It there a
valid partnership?

 Yes, because any later provision that excludes one or more partners from any share
of the profits (or losses) will have no effect on the partnership's existence, and only
the stipulation will be void

3. Same Partnership. Among the purpose of the partnership is the promotion of social and
religious ends. Will this prevent the creation of a valid partnership in view of article 1767?

 No, because the purpose isn't to make money. Even a loss-making business might be
a partnership if the purpose is to make money. However, even if there are moral or
spiritual goals, the partnership indicated above does not state that its primary goal is
to make money.

4. Same partnership. The partnership was orally formed without the contract being put in
writing signed by the partners. Is the contract of partnership valid.

 Yes, the contract is valid because, in most cases, a partnership can be created orally
regardless of the magnitude of the contributions, unless immovable property or real
rights are provided, in which case a public instrument must be executed.

5. N donated a condominium unit to X,Y and Z who agreed among themselves to lease it to W
and share in the rentals. Are X,Y, and Z partners?

 No, on the grounds that this shows that X, Y, Z are only co-proprietors/co-holders
whether or not they share in the benefits made by the rent of the property. Co-
responsibility for doesn't of itself lay out the presence of an organization, in spite of
the fact that it is a fundamental component of association. The benefits should be
gotten from the activity of the business or undertaking by the individuals and not
simply from property possession.