I.

THE CONCEPT OF PARTNERSHIP

A. Historical Background
[Lecture]

B. The Nature of Partnerships

1. Definition
Article 1767 - VALDEVIESO
Bautista p. 3
Litonjua v. Litonjua, G.R. Nos. 166299-300, December 13, 2005. - ODULIO

2. Elements
Article 1767 - BACAR
Evangelista v. CIR; AFISCO v.CA, G.R. No. 112675, January 25, 1999. -
CULA

a. Common fund
Lim Tong Lim v. Philippine Fishing Gear, G.R. No. 136448,
November 3, 1999. - PANGILIN
AFISCO v. CA, G.R. No. 112675, January 25, 1999. - ARELLANO

b. Profits
AFISCO v. CA, G.R. No. 112675, January 25, 1999. - ARELLANO
Gatchalian v. CIR, G.R. No. 45425, April 29, 1939. - ALLANIGUE

c. Characteristics

i. Lawful Purpose and Common Benefit

Articles 1770, 1409 (1) - DEMAISIP
October 17, 1989 SEC Opinion to Ms. C.A. Reyes Santos -
GILLEGO
Arbes v. Polistico, G.R. No. 31057, September 7, 1929. - MORATA
Bautista, p. 19

ii. Separate Juridical Personality

• When it exists
Oña v. CIR, G.R. No. L-19342, May 25, 1972. - AVILA

d. Receipt of profits prima facie evidence of being a partner

Article 1769 (4) - CONTRERAS
Heirs of Jose Lim v. Juliet Lim, G.R. No. 172690, March 3, 2010. -
BARCELONA