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)