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Business Laws and Regulations Module # 1: Polytechnic University of The Philippines-Bataan Branch

This module discusses key concepts relating to partnership law in the Philippines including: 1. Defining partnerships and distinguishing them from other business structures. 2. Examining partnerships as a contract and the various types of partnerships. 3. Exploring the obligations of partners to one another, including contributions and accounting. The reading assignment and questionnaire cover the general provisions of partnership law and the obligations of partners among themselves according to the Civil Code of the Philippines.

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268 views3 pages

Business Laws and Regulations Module # 1: Polytechnic University of The Philippines-Bataan Branch

This module discusses key concepts relating to partnership law in the Philippines including: 1. Defining partnerships and distinguishing them from other business structures. 2. Examining partnerships as a contract and the various types of partnerships. 3. Exploring the obligations of partners to one another, including contributions and accounting. The reading assignment and questionnaire cover the general provisions of partnership law and the obligations of partners among themselves according to the Civil Code of the Philippines.

Uploaded by

Kim Ella
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Republic of the Philippines

POLYTECHNIC UNIVERSITY OF THE PHILIPPINES-BATAAN BRANCH


Mariveles, Bataan

BUSINESS LAWS AND REGULATIONS


LAW 20023
Module # 1

Overview

This module discusses the General Provisions of Partnership as well as the


Obligations of Partners among themselves.

Module Objective

At the end of this module, you are expected to:

1. Have clear understanding of what a Partnership is, its


difference to other business organizations; and

2. Have clear knowledge of Partnership as a Contract;

3. Have an idea about the different kinds of Partnership and its


effects; and

4. Have a clear understanding of the different obligation of the


partners among themselves.

Reading Assignment

General Provisions of the Law on Partnership (Articles 1767-1783


Obligations of the Partners among Themselves (Articles 1784-1809)
Pages 1-80, Recommended Book

Questionnaire

Define. (20 pts)

1. Partnership
2. Co-ownership
3. Corporation
4. Sole Proprietorship
5. Conjugal Partnership of Gains
6. Universal Partnership of All Present Property
7. Universal Partnership of Profits
8. Particular Partnership
9. Subpartnership
10. Ostensible Partnership
11.Notorious Partnership
12. De Facto Partnership
13. General Partner
14. Limited Partner
15. Ostensible Partner
16. Industrial Partner
17. Capitalist Partner
18. Managing Partner
19. Secret Partner
20. Silent Partner

Enumerate. (25 pts.)

1. Five (5) Essential Features of Partnership


2. Four (4) Effects of an Unlawful Partnership
3. Three (3) Difference between Universal Partnership of all Present
Property and Universal Partnership of Profits
4. Four (4) Relations created by a Contract of Partnership
5. Five (5) Obligations of Partners with respect to the Contribution of
Property
6. Four (4) Obligations of Partner with respect to the Contribution of
Money and Money Converted to Personal Use

Essay. (25 pts.)

1. Differentiate a Partnership with Co-ownership. (5 pts.)

2. Why are persons prohibited from giving each other any donation or
advantage cannot enter into a universal partnership? (5 pts.)

3. Natsu entered into a Real Estate partnership with Lucy, Erza, Gray,
Wendy and Happy wherein the Partnership buys Real Estate Properties
and sell them for profit. Natsu will serve as the industrial partner who
will manage the Partnership and will oversee its business and affairs.
On December 2020, Natsu bought and sold a Three-Room Apartment
for his own account.

a. Can the Partnership and the partners hold Natsu accountable for
his action? If no, explain. If yes, explain and state what may the
partnership and partners do to make him accountable. (5 pts).

b. Let us assume that Natsu only contributed money into the


partnership as a capitalist partner will he still be
accountable/liable? Explain and State the relevant provision of
law. (5 pts.)
4. Sabo worked abroad for two years after ASL Partnership was formed.
Upon arrival at the Country, Sabo demands Ace and Luffy a formal
accounting of partnership affairs. Can Sabo insist on the demand if Ace
and Luffy refuse the same? Explain and State the Provision of Law
applicable to the situation. (5 pts)

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