The Law On Partnerships And Private Corporations by Hector S. De Leon
[CORPORATION CODE OF THE PHILIPPINES] TITLE I
Law on Partnership and Corporation Study Guide
A contract wherein two or more persons bind themselves to contribute money,property, or industry to a common fund, withthe intention of dividing the profits among themselves. 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. The partnership has a judicial personality separate and distinct from that of each of the partners, even in case of failure to comply with the requirements of Article , first paragraph. A partnership must have a lawful object or purpose, and must be established for the common benefit or interest of the partners. When an unlawful partnership is dissolved by a judicial decree, the profits shall be confiscated in favor of the State, without prejudice to the provisions of the Penal Code governing the confiscation of the instruments and effects of a crime.
Law on Business Organizations Reviewer PARTNERSHIP Art. By the contract of .. W/ regard to 3rdpersons, a de facto partnership or partnership by estoppel may exist. There is Obligations and Contracts Hector de Leon Reviewer.
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