CLASSIFICATION OF PARTNERSHIP

1. As to object:

a. Universal partnership

i. universal partnership of all present property

ii. Universal partnership of profits

b. Particular partnership

2. As to liability of partners:

a. General partnership

b. Limited partnership

3. As to duration

a. Partnership at will

b. Partnership with a fixed period

4. As legality of existence:

a. De jure partnership

b. De facto partnership

5. As to representation to others:

a. Ordinary or real partnership

b. Ostensible or partnership by estoppel

6. As to publicity:

a. Secret partnership

b. Notorious or open partnership

7. As to purpose

a. Commercial or trading

b. Professional or non-trading

UNIVERSAL PARTNERSHIP

1. A universal partnership of all present property is one wherein the partners contribute all the
property which actually belong to them to a common fund, with the intention of dividing the
same among themselves, as well as all the profits which they may acquire therewith.
>In a universal partnership of all present property, the property which belongs to each of the partners at
the time of the constitution of the partnership, becomes the common property of all the partners, as
well as the profits which they may acquire therewith.

>A stipulation for the common enjoyment of any other profits may also be made; but the properties
which the partners may acquire subsequently by inheritance, legacy or donation cannot be included in
such stipulation, except the fruits thereof

>Where the articles of partnership do not specify the nature of the universal partnership, whether it is
one of present property or of profits only, it will be presumed that the parties only intended a
partnership of profits

Note: Future properties cannot be contributed. Thus, property subsequently acquired by (1) inheritance;
(2) legacy or (3) donation cannot be included by stipulation except the fruits thereof.

2. A universal partnership of profits is 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.

>Movable or immovable property which each of the partners may possess at the time of the celebration
of the contract shall continue to pertain exclusively to each, only the usufruct passing to the partnership

Note: Persons who are prohibited from giving each other any donation or advantage cannot enter into a
universal partnership (Art. 739, Art 87 Family Code)

Profits acquired by their partners through chance (lottery) without employment of any physical
or intellectual efforts are not included.

PARTICULAR PARTNERSHIP

-is one which has for its object determinate things, their use and fruits or a specific undertaking or the
exercise of a profession or vocation.

GENERAL PARTNERSHIP

-A partnership consisting of general partners who are liable pro rata and subsidiarily and sometimes
solidarily with their separate property for partnership debts

LIMITED PARTNERSHIP-one formed by two or more persons having as members one or more general
partners and one or more limited partners, the latter not being personally liable for the obligations of
the partnership

PARTNERSHIP AT WILL-is one wherein no time is specified and is not formed for a particular undertaking
or venture and which may be terminated anytime by mutual agreement of the partners or by the will of
any partner alone; or one for a fixed term or particular undertaking but has been continued by the
partners after termination of such term or particular undertaking without express agreement.

PARTNERSHIP WITH A FIXED TERM-one wherein the term for which the partnership is to exist is fixed of
agreed upon or one formed for a particular undertaking, and upon the expiration of the term or
completion of the particular enterprise, the partnership is dissolved, unless continued by the partners.
OTHER KINDS OF PARTNERSHIP

1. De jure partnership-one which has complied with all the legal requirements for its establishment

2. De facto partnership-one which has not complied with all the legal requirements for its
establishment

3. Ordinary or real partnership-one which actually exists among the partners and also as to third
persons

4. Ostensible partnership or partnership de facto-one which in reality is not a partnership but is

considered a partnership only in relation to those who, by their conduct or admission, are
precluded to deny or disprove its existence.

5. Secret partnership-one wherein the existence of certain persons as partners is not avowed or
made known to the public by any of the partners’

6. Open or notorious partnership-one whose existence is avowed or made known to the public by
the members of the firm

7. Commercial or trading partnership-one formed for the transaction of business

8. Professional or non-trading partnership-one formed for the exercise of profession