Professional Documents
Culture Documents
I.
INTRODUCTION
A. Sources of Philippine Law on Partnership
1. Code of commerce (arts. 116-238) commercial and mercantile
partnerships dealt with mercantile transactions
2. Old Spanish civil code (arts. 1665 1708) non-commercial or civil
partnership engaged in civil purposes; difference was in the
desired purpose not the manner of organization
3. New civil code (title IX, arts. 1767 1867) no more distinction
between commercial and civil partnership; governs all transactions
of all partnership, whether the object be civil or mercantile
a. Uniform partnership act (source of arts. 1769, 1774, 1785, 1805
to 1907, 1809, 1810 to 1814, 1819 to 1826)
b. Uniform limited partnership act
II.
ii.
ix.
IV.
KINDS OF PARTNERS
A. Definitions
1. General and limited partners art 1843; 1844; 1816 based on
liability
2. Capitalist and industrial partners art 1767; 1789 - - based on
contribution
3. Ostensible, nominal, and dormant partners art 1834 (2); - partner
by estoppel based on degree of connection to partnership
4. Original and incoming partners based on time of joining
partnership
5. Managing partner art 1800 based on duties; art 1818, par. 3
6. Liquidating partner art 1836