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Partnership Contracts and Legal Status

The document discusses various legal aspects of partnerships, including the validity of contracts entered into by minors and the implications of unlawful objects in partnerships. It confirms that oral partnerships are generally valid unless they involve immovable property, which requires a written public instrument. Additionally, it addresses the distinct juridical personality of partners and the intention to divide profits.

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Mitchay
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14 views1 page

Partnership Contracts and Legal Status

The document discusses various legal aspects of partnerships, including the validity of contracts entered into by minors and the implications of unlawful objects in partnerships. It confirms that oral partnerships are generally valid unless they involve immovable property, which requires a written public instrument. Additionally, it addresses the distinct juridical personality of partners and the intention to divide profits.

Uploaded by

Mitchay
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

1.

Recite 1767

2. What is the status of a contract if entered into by a minor?

3. Does the partner have a separate juridical personality distinct from its owners? Are they still
considered partners even if they don’t comply with art 1772?

3. partnership must have a lawful object – Art 1770. What is the status of a contract if it is unlawful?

4. Intention to divide profits – presumptive or conclusive?

Q: TRUE or FALSE. An oral partnership is valid (2009 BAR).


A: TRUE. An oral contract of partnership is valid even though not in writing. However, if it involves contribution of
an immovable property or a real right, an oral contract of partnership is void. In such a case, the contract of
partnership to be valid, must be in a public instrument (NCC, Art. 1771), and the inventory of said property signed
by the parties must be attached to said public instrument (NCC, Art. 1773; Litonjua, Jr. v. Litonjua, Sr., G.R. Nos.
166299-300, December 13, 2005)

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