Classifications of partnership.

ART. 1776. As to its object, a partnership is either

universal or particular.

As regards the liability of the partners, a partnership

may be general or limited. (1671a)

(1) As to the extent of its subject matter. — A partnership may

be:

(a) Universal partnership or one which refers to all the

present property or to all profits. (Art. 1777.)

There are thus two kinds of universal partnership, to wit:

(1) Universal partnership of all present property. This

is defined in Article 1778; and

(2) Universal partnership of profits. This is defined in

Article 1780;

or

(b) Particular partnership. — This is defined in Article

1783.
(2) As to liability of the partners. — It may be:

(a) General partnership or one consisting of general

partners who are liable pro rata and subsidiarily (Art. 1816.)

and sometimes solidarily (Arts. 1822-1824.) with their

separate property for partnership debts; or

(b) Limited partnership or 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. (Art. 1843.)