󾠯

Second Meeting
Essential Elements for the Existence of Partnership (ICJ)
I - Interest of the partner
C - Contributions to the common fund
J - Joint of Interest regarding of gaining profits
Dapat present lahat para element para masabing nag eexist ang partnership.
Kinds of Partnership in General as to the Object

1. Universal Partnership

All Property, All Profits

All Properties

All partners contribute contributions (Money/Property) to a common fund.

LAHAT ay CONTRIBUTED

Lahat ng pagmamay ari nila ay pagmamay ari na ng partnership.

All Profits

hindi co owner, nag contribute lng sila.

Lahat ng profits, automatic mapupunta lahat sa partnership and maddivide sa partners.

2. Particular Partnership

Exercise of Profession

Pertains industry or determining object.

Money - a cheque needs to be in legal tender and also dpat in Pesos.

Second Meeting 1
 Kinds of Partners as to the Membership

1. Real Partner

Actual na nag contribute at bumubuo ng partnership.

Example: Nakaka sama mo physically yung jowa mo, nillove ka, nag ccuddle kayo.

2. Ostensible Partner

It is non existing

Example: Inaannounce mo na mag jowa kayo pero hindi alam ng isa. Inaanounce ni A na
jowa nya si B kahit hindi naman alam ni B.

3. Partner by Estoppel

Magkakaron na ng liability

Walang partnership tlaga

Not partners with each other ay not partners to the third person.

Pag nag benefit yung partner it is Estoppel. Hindi na niya pwede itanggi na hindi sila
partners ksi nag benefit na siya.

Example: Bumili si A ng 5M worth of bags at sinabi sa supplier na partner nya si C and B.

Nung nakabenta na si A, binigyan niya ng kita si C and B.

Suspended yung denying ni C and B na di sila partners ni A kasi nakinabang na sila.

Kinds of Partners as to Liabilities

1. General

Liability ng mismong partnership.

Liability ni ABC Company.

Example: May binili kayong pugo worth 6M, si A, B at C. Pag hindi kayo naka benta ang
paghahatian ay 2M losses, meaning babayaran nyong tatlo ay 2M each kay supplier.

Eh paano kung 3M lang ang kayang bayaran ng ABC Company? Maghahati hati sila
ngayong tatlo dun sa natitirang 3M na utang. First, si Juridical Personality muna ang
magbabayad, pero kung kulang parin, we’ll go to Personal Liability.

Second Meeting 2
 Personal Liability

External, meaning sariling pera na nila ang ipangbabayad.

2. Limited Partnership

Kung hanggang saan lang yung na contribute, yun lang ibabayad nila.

Example: Pag nag contribute si A ng 2M sa partnership, hanggang 2M lng ibibigay nya pag
nagkautang. Kahit pa mabaon sa utang si ABC Company hanggang dun lng tlaga sya.

Liable pero limited.

Limited to its capacity, extend to his contribution only.

Partnership as to the Nature of Contribution

1. Capitalist - nag cocontribute ng money.

2. Industrial - nag ccontribute ng industry. Pwede sa General Professional Partnership (GPP)

NOTE: Hindi pwedeng puro industry lang ang pwedeng icontribute sa business. Dapat
laging may Capitalist and Industrial sa isang business.

Partnership as to the Public Exposure

1. Secret Silent Partner

partner pero di kilala ng public.

Nag ccontribute ng pera at may na rreceive na profit.

Ex: Sugar Daddy

2. Ostensible Partner

Nagrerepresent sa partnership publicly.

How to know if there is Existence of Partnership

“Partnersho are not partners to each other are not partners to the 3rd person”.

Second Meeting 3
 Example: Si A at B ay magjowa sa mata ng public, kahit hindi.

Hindi liable si B kay A, kung si A lng ang nag announce na partners sila.

Co-Ownership

Kahit pa may ari kyong dalawa ng isang property, hindi ibig sbihin non partners na kayo.

General Rule: Sharing of profits is a presumption na partners kayo pero may exemption:
Debt by installment, Interest on Loan, Wages on employee. and Annuities of a Widow,
Consideration of the sale of a good will property.

NOTE:

Gross Return

binalik yung contribution.

does not mean na may partnership.

Duration of Partnership

No Limits - General Rule

It depends

1. Partnership at Will

No limits, kahit kelan nyo gusto mag exist or matapos ang business.

2. Partnership at Fixed Term

may limit

example: 5 yrs lng ang napag usapan, so after 5 yrs tapos na ang partnership.

EXAMPLE: Pano pag gusto nila umextedsa 5yrs.

Ma tterminate lang pero hindi ma ddissolve ang partnership

Same liabilities, same assets, same capital.

Mag tturn lang si Fixed Term to Will. Sila na ang mag ddecide ngayon kung gano na katagal
ang partnership.

Second Meeting 4
Second Meeting 5