Agency

1. Art. 1868

(Art. 1868, Civil Code) The agency may be express or implied. It is generally not required to be
in writing; the contract may be oral unless the law requires a specific form. Needless to state,
the agent must act within the scope of his authority.

2. Recite at least 5 instances where SPA is necessary

When is a special power necessary?

1. to Create or convey real rights over immovable property;
2. Convey or Acquire immovable
3. to Loan or borrow money, unless the latter act be urgent and indispensable for the
preservation of the things which are under administration;
4. to Lease any real property to another person for more than one year;
5. to Make such Payments as are not usually considered as acts of administration;
6. to Obligate principal as guarantor or surety
7. to bind the principal to render some Service without compensation;
8. to bind the principal in a contract of Partnership;

3. Differentiate Sale from agency to buy

Sale Agency to Buy

Buyer Acquires Ownership Principal acquires Ownership
Buyer pay the price. Agent delivers the price in behalf of the
principal

4. Agency vs. Guardianship

Basis Agency Guardianship

As to who they represent
As to the source of authority
As to the appointing authority
As to being subject to the
person they represent
As to liability
Agent represents a
capacitated person.
Agent derives authority from
the principal.
Agent is appointed by the
principal and can be removed
by the latter.
Agent is subject to directions
of the principal
Agent can make the principal
Guardian represents an
incapacitated person
Guardian derives authority
from the court.
Guardian is appointed by the
court, and stands in loco
parentis.
Guardian is not subject to the
directions of the ward, but
must act for the ward’s
benefit
Guardian has no power to
 personally liable. impose personal liability on
the ward.

5. Agency by Estoppel from Implied Agency

See 538
6. 3 obligations of an agent

See 534

7. 3 obligation of a principal

See 540

8. Art. 1919

Article 1919. Agency is extinguished:

(1) By its revocation;

(2) By the withdrawal of the agent;

(3) By the death, civil interdiction, insanity or insolvency of the principal or of the agent;

(4) By the dissolution of the firm or corporation which entrusted or accepted the agency;

(5) By the accomplishment of the object or purpose of the agency;

(6) By the expiration of the period for which the agency was constituted. (1732a)

Partnership

1. Art. 1767

Article 1767. By the contract of partnership two or more persons bind themselves to contribute
money, property, or industry to a common fund, with the intention of dividing the profits among
themselves.

Two or more persons may also form a partnership for the exercise of a profession. (1665a)

2. Partnership vs. conjugal partnership

https://www.scribd.com/document/238752275/Conjugal-Partnership-of-Gains

3. Partnership vs. Joint company

What is the difference between partnership and joint stock company?

Partnership firms has no separate legal existence. Partnership Firm and partners are the same. Joint
Stock company has separate legal existence. It is an artificial person created by law.

A partnership firm is a form of business organisation 1 owned and managed by two or more persons i.e.
partners for earning profit. A joint stock company is an incorporated voluntary association of individuals
for profit, created by law, owned by the shareholders but managed by their few representatives, i.e.
Directors.

All the partners are jointly and severally liable for all (kinds of) business debts and obligations. Whereas
in a joint stock company, members have liability limited by guarantee or by the shares. They are not
liable for the debts of the company. Members have limited liability to the amount of shares held.

4. Partnership vs. co-ownership

See 497