UNIVERSITY OF THE PHILIPPINES COLLEGE OF LAW Prof. Rommel J. Casis Prof. Rommel J. Casis Rm.

302, Malcolm Hall Email: prof.casis@gmail.com Consultation hours: MTTHF 9am -12nn, 3-5pm, or by appointment Law 173: AGENCY AND PARTNERSHIP Course Syllabus Course Description: The law of agency and partnership based on the Civil Code and relevant special laws. Pre-requisite: Law 101: Obligations and Contracts Course Requirements: Agency Exam Partnership Exam Recitation Attendance MCQs 1 = 96 100 1.25 = 91 95 1.5 = 86 90 1.75 = 81 85 References: 3 American Jurisprudence 2d Agency (1987) and (2011) De Leon and De Leon Jr., Comments and Cases on Partnership, Agency and Trusts (2010) Restatement (Third) of Agency (2006)
Updated on 26 November 2011

25 pts. 25 pts. 50 pts.

2.0 = 76 80 2.25 = 71 75 2.5 = 66 70 2.75 = 61 65

3 = 56 60 4 = 51 55 5 = 50 & below

AGENCY OUTLINE - Week 1 Nov 14-17 I. A. 1. Purpose and Definition Purpose THE CONCEPT OF AGENCY

[Lecture] Eurotech v. Cuison G.R. No. 167552. April 23, 2007.1 2. Definition

Article 1868 1869 cf. 1870, 1976 a. Legal Relationship

Restatement (Third) of Agency 1.01 (2006) 3 Am. Jur. 2d Agency 1 (2011) Rallos v. Felix Go Chan, G.R. No. L-24332. January 31, 1978 Severino v. Severino G.R. No. 180058. January 16, 1923. b. Contract

Article 1868 cf. Article 1709 old Civil Code Article 1305, 1318 B. Elements of Agency

Article 1868 Rallos v. Felix Go Chan, G.R. No. L-24332. January 31, 1978 cf. Article 1868, 1881, 1869, 1870 Orient Air Service v. CA G.R. No. 76931 May 29, 1991 Bordador v. Luz G.R. No. 130148, December 15, 1997 Apex Mining Co., Inc. v. Southeast Mindanao G.R. Nos. 152613 & 152628 June 23, 2006 De La Cruz v. Northern Theatrical G.R. No. L-7089, August 31, 1954

1

The facts and issues of cases in italics will not be discussed, only the relevant principles for the part of the outline where they appear.
Updated on 26 November 2011

Tuazon v. Heirs of Ramos, G.R. No. 156262 , July 14, 2005 Victorias Milling v. CA G.R. No. 117356, June 19 2000 C. 1. Effect of Agency: Integration and Extension Authority to Act

Eurotech v. Cuison G.R. No. 167552. April 23, 2007 Doles v. Angeles G.R. No. 149353 June 26, 2006 2. Agent Not Real Party-in-Interest

Uy and Roxas v. CA, G.R. No. 120465, September 9, 1999 Angeles v. PNR, G.R. No. 150128, August 31, 2006 Ong v. CA, G.R. No. 119858, August 31, 2006. PNB v. Ritratto, G.R. No. 142616. July 31, 2001 3. Notice to Agent is Notice to Principal

Francisco v. GSIS G.R. No. L-18287 Sunace International v. NLRC G.R. No. 161757 January 25, 2006 Cosmic Lumber v. CA G.R. No. 114311 November 29, 1996 New Life Enterprises v. CA G.R. No. 94081 March 31 1992 4. Bad Faith of the Agent is Bad Faith of the Principal

Caram v. Laureta, G.R. No. L-28740, February 24, 1981 5. Extinguished by Death

Rallos v. Felix Go Chan, G.R. No. L-24332. January 31, 1978 D. 1. a. Nature of Agency: General and Special Distinguishing General Agency and Agency Couched in General Terms As to Scope: General Agency

Article 1876 Dominion Insurance v. CA G.R. No. 129919, February 6, 2002 b. As to Authority: Agency Couched in General Terms

Article 1877
Updated on 26 November 2011

2.

Distinguishing Special Agency and Agency Couched in Specific Terms - Week 2 Nov. 21- 24 -

a.

As to Scope: Special Agency

Article 1876 b. i. As to Authority: Special Power of Attorney Transactions Covered

Article 1878 Veloso v. CA G.R. No. 102737. August 21, 1996 Lim Pin v. Liao Tan, G.R. No. L-47740, July 20, 1982 ii. Effect of Absence of Specific Authorization

Dugo v. Lopena G.R. No. L-18377 December 29, 1962 Vicente v. Geraldez G.R. No. L-32473 July 31, 1973 Cosmic Lumber v. CA G.R. No. 114311 November 29, 1996 Mercado v. Allied Banking Corporation G.R. No. 171460. July 27, 2007 iii. Effect of Specific Authorization

BPI v. De Coster G.R. No. 23181 March 16, 1925 PNB v. Sta Maria G.R. No. L-24765 August 29, 1969 Insular Drug v. PNB G.R. No. 38816 November 3, 1933 Hodges v. Salas G.R. No. L-42958 October 21 1936 Veloso v. CA G.R. No. 102737. August 21, 1996 Bravo-Guerrero v. Bravo G.R. 152658 July 29, 2005. 3. Clarifying the Terms

Siasat v. IAC G.R. No. L-67889 October 10, 1985 II. A. Oral or Written ESTABLISHING AGENCY

Article 1869
Updated on 26 November 2011

1.

Oral

Air France v. CA G.R. No. L-57339 December 29, 1983. 2. Written

Article 1874 a. Application

Cosmic Lumber V. CA G.R. No. 114311 November 29, 1996. De Leon v. De Leon Jr, p. 389 Rodriguez v. CA G.R. No. L-29264 August 29, 1969 Oesmer v. Paraiso Development G.R. No. 157493 February 5, 2007. b. Effect

AF Realty v. Dieselman G.R. No. 111448 January 16, 2002 Pahud v. CA G.R. No. 150346 August 25, 2006 - Week 3 Nov. 28 - Dec. 1c. Form in Case of Corporations

AF Realty v. Dieselman G.R. No. 111448 January 16, 2002 Litonjua v. Eternit G.R. No. 144805 June 8 2006 C. Express/Implied Agency and Agency by Estoppel

Article 1869 1. 2. a. Express Agency Implied Agency Implied from Acts of the Principal

Article 1869 Uniland Resources v. DBP G.R. No. 95909 August 16, 1991 b. Implied from Acts of the Agent

Article 1870 - 1872

Updated on 26 November 2011

3. a.

Agency by Estoppel Based on statute

Article 1873 b. Based on jurisprudence

Pahud v. CA G.R. No. 160346 August 25, 2009 Litonjua v. Eternit G.R. No. 144805 June 8 2006 Nogales v. Capitol Medical G.R. No. 142625 December 19, 2006 4. Distinguishing Implied Agency and Agency by Estoppel

Naguiat v. CA and Queao G.R. No. 118375 October 3, 2003 Woodchild v. Roxas G.R. No. 140667 August 12, 2004 Yun Kwan Byung v. PAGCOR G.R. No. 163553 December 11, 2009 Professional Service v. Agana G.R. No. 126297. January 31, 2007, G.R. No. 126297. February 11, 2008, and G.R. No. 126297. February 2, 2010 III. A. 1. The Rights of Agents Compensation THE AGENT

Article 1875, 1909 a. Procuring Cause

Danon v. Brimo & Co G.R. No. 15823 September 12, 1921 Hahn v. CA G.R. No. 113074 January 22, 1997 Tan v. Gullas G.R. No. 143978. December 3, 2002 Philippine Health-Care Providers v. Estrada G.R. No. 171052. January 28, 2008 Sanchez v. Medicard G.R. No. 141525 September 2, 2005 Infante v. Cunanan G.R. No. L-5180 August 31, 1953 Lim v. Saban G.R. No. 163720 December 15, 2004 - Week 4 Dec. 5-8 b. Prats Doctrine and Manotok Test

Updated on 26 November 2011

Prats v. CA G.R. No. L-39822 January 31, 1978 Manotok Brothers v. CA G.R. No. 94753 April 7, 1993 Uniland Resources v. DBP G.R. No. 95909 August 16, 1991 c. Forfeiture of Right

Domingo v. Domingo G.R. No. L-30573 October 29, 1971 2. Lend to/Borrow Money from the Agency

Article 1890 3. Appoint a Substitute

Article 1892-1893 d. Substitute Agent: Alternate Not Delegate

Baltazar v. Ombudsman G.R. No. 136433 December 6, 2006 3 Am. Jur. 2d Agency 7 (2011) Serona v. People, G.R. No. 130423. November 18, 2002 4. Retain in Pledge Objects of the Agency

Article 1912-1914 B. 1. a. The Obligations of Agents Act within the scope of authority In general

Article 1881-1882 Woodchild v. Roxas G.R. No. 140667 August 12, 2004 Guinhawa v. People, G.R. No. 162822. August 25, 2005 b. As Regards Third Persons

Article 1900 c. Authority of Corporate Officers

Board of Liquidators v. Heirs of Maximo Kalaw G.R. No. L-18805 August 14, 1967
Updated on 26 November 2011

San Juan v. Court of Appeals G.R. No. 129549 September 19, 1998 AF Realty v. Dieselman G.R. No. 111448 January 16, 2002 Francisco v. GSIS G.R. No. L-18287 March 30, 1963 2. Act in Accordance with Instructions

Articles 1887, 1899 3. Carry Out the Agency

Article 1884 British Airways v. Court of Appeals, G.R. No. 121824. January 29, 1998 - Week 5 Dec. 12 -15 4. Advance Funds Article 1886 5. a. Prefer Interest of the Principal Over Personal Interest In general

Article 1889 b. Property Administered

Article 1491 (2) Severino v. Severino G.R. No. 18058 January 16, 1923 Araneta, Inc. v. De Paterno G.R. No. L-2886 August 22, 1952 c. Double Sales

Articles 1916-1917, 1544 6. Render Account/Deliver

Article 1891 Domingo v. Domingo G.R. No. L-30673 October 29, 1971 Murao v. People, G.R. No. 141485. June 30, 2005. 7. Pay interest

Article 1896
Updated on 26 November 2011

8.

Responsibility for Fraud or Negligence

Article 1909 Metrobank v. CA G.R. No. 88866, February 18, 1991. C. 1. The Liability of Agents When Solidary

Articles 1894-1895 2. a. When Personally Liable Expressly Bound or In Excess of Authority

Articles 1897-1898 Eurotech v. Cuison G.R. No. 167552 April 23, 2007 DBP v. CA G.R. No. 109937, March 21, 1994 b. Act in Own Name

Article 1883 Beaumont v. Prieto G.R. No. 8988 March 30, 1916 c. Special Obligations of Commission Agents

Articles 1903-1908 IV. A. 1. Obligations of the Principal Comply with Obligations THE PRINCIPAL

Article 1910 a. Acts Within the Scope of Authority

Articles 1881-1882, 1900 b. Ratified Acts

Articles 1901, 1910 Filipinas Life v. Pedroso G.R. 159489, February 4, 2008
Updated on 26 November 2011

Manila Memorial v. Linsangan G.R. No. 151319 November 22, 2004 Board of Liquidators v. Heirs of Maximo Kalaw G.R. No. L-18805 August 14, 1967 Francisco v. GSIS G.R. No. L-18287 March 30, 1963 Woodchild v. Roxas G.R. No. 140667 August 12, 2004 c. When estopped

10

Article 1911 Rural Bank of Milaor v. Ocfemia, G.R. No. 137686, February 8, 2000 Cuison v. CA, G.R. No. 88539. October 26, 1993 2. Advance/Reimburse

Articles 1912, 1918 3. Indemnify

Article 1913 4. Compensate

Article 1975 B. 1. Liability of Principals Be Solidarily Liable

Articles 1911, 1915 De Castro v. CA G.R. No. 115838 July 18, 2002 2. Contract Involves Things Belonging to Principal

Article 1883 Syjuco v. Syjuco G.R. No. 13471 January 12, 1920 PNB v. Agudelo G.R. No. 39037 October 30, 1933 V. A. THE THIRD PARTY DEALING WITH THE AGENT

Rights of Third Parties

Article 1902
Updated on 26 November 2011

B. 1.

Obligation of Third Parties The Keeler Rules

11

Keeler Electric v. Rodriguez G.R. No. 19001 November 11, 1922 b. Later Jurisprudence

BA Finance v. CA G.R. No. 94566, July 3, 1992 NPC v. National Merchandising G.R. Nos. L-33819 & L- 33897 October 23, 1982 Apex Mining v. Southeast Mindanao G.R. Nos. 152613 & 152628, June 23, 2006 Bacaltos Coal Mines v. CA G.R. No. 114091 June 29, 1995 VI. Article 1919 A. 1. Revocation In General EXTINGUISHING THE AGENCY

Articles 1920, 1925 Barreto v. Santa Marina G.R. 8169 December 29, 1913 2. a. When Not Binding on Third Persons When Notice is Required

Articles 1921, 1873 Lustan v. CA, G.R. No. 111924. January 27, 1997 b. Third Person in Good Faith Without Knowledge of Revocation

Article 1922 3. Appointment of a New Agent

Article 1923 4. Direct Management by the Principal

Article 1924 CMS Logging v. CA G.R. No. 41420 July 10, 1992
Updated on 26 November 2011

Sanchez v. Medicard G.R. No. 141525 September 2, 2005 5. Special Revokes General in Part

12

Article 1926 6. When Agency Cannot be Revoked

Article 1927 Del Rosario v. Abad G.R. No. L-10881 September 30, 1958 Coleongco v. Claparols G.R. No. L-18616 March 31, 1964 Lim v. Saban G.R. No. 163720 December 16, 2004 Valenzuela v. CA, G.R. No. 83122. October 19, 1990 B. Withdrawal

Article 1928 Valera v. Velasco G.R. No. 28050 March 13, 1928 C. Death/Civil Interdiction/Insanity/Insolvency of the Principal

Article 1919 Rallos v. Felix Go Chan G.R. No. L-24332 January 31, 1978 1. 2. Agency Coupled with an Interest Contract between Agent without Knowledge and Third Person in Good Faith

Article 1931 Rallos v. Felix Go Chan G.R. No. L-24332 January 31, 1978 VII. DISTINGUISHING AGENCY FROM OTHER CONTRACTS A. 1. In General Determined by Acts

Doles v. Angeles G.R. No. 149353 G.R. No. 149353 June 26, 2006 2. The Element of Control

Updated on 26 November 2011

Victorias Milling v. CA G.R. No. 117356 June 19, 2000 Sevilla v. CA G.R. Nos. L-41182-3 April 15, 1988 B. Distinguished from Partnership

13

Article 1767 Sevilla v. CA G.R. Nos. L-41182-3 April 15, 1988 Litonjua v. Litonjua G.R. Nos. 166299-300 December 13, 2005 C. 1. Distinguished from Service Providers Lessor of Services

Article 1644 Nielson v. Lepanto G.R. No. L-21601 December 28, 1968 2. Independent Contractor

Article 1713 Fressel v. Mariano Uy Chaco G.R. No. 10918 March 4, 1916 Shell v. Firemens Insurance G.R. No. L-8169 January 29, 1957 D. Distinguished from Sale

Article 1458 Quiroga v. Parsons Hardware G.R. No. 11491 August 23, 1918 American Rubber v. CIR G.R. No. L-25965 June 30, 1975 Ker v. Lingad G.R. No. L-20871 April 30, 1971 Gonzalo Puyat v. Arco Amusement G.R. No. 47538 June 20, 1941 Chua Ngo v. Universal Trading G.R. No. L-2870 September 19, 1950 E. Distinguished from Brokerage

Hahn v. CA G.R. No. 114074 January 22, 1997. PARTNERSHIP OUTLINE References: Esteban B. Bautista, Treatise on Philippine Partnership Law 1 (1995) De Leon & De Leon, Jr. Comments and Cases on Partnership, Agency and Trusts (2010)
Updated on 26 November 2011

14

I. A.

THE CONCEPT OF PARTNERSHIP

Historical Background

[Lecture] B. 1. The Nature of Partnerships Definition

Article 1767 Bautista p. 3 Litonjua v. Litonjua G.R. Nos. 166299-300 December 13, 2005 2. Elements

Article 1767 Evangelista v. CIR; AFISCO v. CA G.R. No. 112675, January 25, 1999 a. Common fund

Lim Tong Lim v. Philippine Fishing Gear, G.R. No. 136448 November 3, 1999 AFISCO v. CA G.R. No. 112675, January 25, 1999 b. Profits

AFISCO v. CA G.R. No. 112675, January 25, 1999 Gatchalian v. CIR G.R. No. 45425 April 29, 1939 c. i. Characteristics Lawful Purpose and Common Benefit

Articles 1770, 1409 (1) October 17, 1989 SEC Opinion to Ms. C.A. Reyes Santos Arbes v. Polistico G.R. No. 31057 September 7, 1929 Bautista p. 19 ii. Separate juridical personality When it exists

Updated on 26 November 2011

Article 1768 Evangelista v. CIR G.R. No. L-9996, October 15, 1957 Article 1775 Bautista p. 58 Effects

15

Aguila v. CA, G.R. No. 127347, November 25, 1999 Bautista p. 56 C. Rules to Determine Existence

Article 1769 1. a. In General No One Factor

[Lecture] b. Intent of the Parties

Evangelista v. CIR G.R. No. L-9996, October 15, 1957 P & M Cattle v. Holler 559 P2d 1019 Murphy v. Stevens 645 P2d 82, 85 2. a. Specific Rules Person not partners to each other not partners to third persons

Article 1769 (1) b. Co-ownership does not of itself establish a partnership

Article 1769 (2) Oa v. CIR, G.R. No. L-19342, May 25, 1972 Obillos v. CIR G.R. No. L-68118, October 29, 1985 Pascual v. CIR, G.R. No. 78133, October 18, 1988 Stern v. Dept. of Revenue 217 NW 2d 326 (1974) Bautista 29-30 c. Sharing of gross return does not establish a partnership

Article 1769 (3)

Updated on 26 November 2011

Oa v. CIR, G.R. No. L-19342, May 25, 1972 d. Receipt of profits prima facie evidence of being a partner

16

Article 1769 (4) Bautista 39-40 Heirs of Jose Lim and Juliet Lim, G.R. No. 172690, March 3, 2010 II. A. 1. Formal Requirements In General FORMING THE PARTNERSHIP

Article 1771 Lilibeth Sunga-Chan G.R. No. 143 340, August 15, 2001 2. When Notarized Agreement and Inventory Required

Articles 1771, 1773 Litonjua v. Litonjua G.R. Nos. 166299-300 December 13, 2005 3. Notarized and Recorded

Articles 1772, 1768 B. Corporations as Partners

February 29, 1980 SEC Opinion to Antonio Librea September 3, 1984 SEC Opinion to Romeo Orsolino December 1, 1993 SEC Opinion to Val Antonio Suarez C. Partnership Term

Article 1784 D. Partnership Purpose

December 8, 2003 SEC Opinion to Ms. Arlyn Solitario E. Firm Name

Article 1815
Updated on 26 November 2011

SEC Memorandum Circular No. 5 Series of 2008, as amended 19 October 1984 SEC Opinion to Renato Santiago 8 July 1987 SEC Opinion to Ministry of Trade and Industry Article 1846 25 April 1984 SEC Opinion to Milton Christopher ___________ SEC Opinion to Demosthenes Gadioma III. KINDS OF PARTNERSHIPS A. Universal and Particular Partnerships

17

Article 1776 1. Universal Partnership

Article 1777 a. Universal Partnership of Present Property

Article 1778- 1779 b. Universal Partnership of Profits

Article 1780-1781 2. Particular Partnership

Article 1783 CIR v. Suter G.R. No. L-25532, February 28, 1969 B. General and Limited Partnerships

Article 1776 C. Professional Partnership

Article 1767 D. Partnership by Estoppel

Article 1825 Anfenson v. Banks L.R.A 1918D, 482, 163 NW 608 Brown v. Gernstein 460 NE 2d 1043 Hunter v. Croysdil 337 P2d 174
Updated on 26 November 2011

Wisonsin Telephone v. Lehman 80 NW 2d 267 E. Joint venture

18

29 February 1980 SEC Opinion issued to Antonio Librea Litonjua v. Litonjua, G.R. Nos. 166299-300, December 13, 2005 Primelink v. Lazatin-Magat, G.R. No. 167379, June 27, 2006 Aurbach v. Sanitary Wares G.R. No. 75875, December 15, 1989 Mendiola v. CA, G.R. No. 159333, July 31, 2006 J. Tiosejo Investment v. Spouses Ang, G.R. No. 174149, September 8, 2010 IV. RIGHTS AND OBLIGATIONS OF THE PARTNER A. 1. a. i. Rights of Partners Partners in General Mutual Agency General Rule

Article 1803, 1818 Stratemeyer v. West 466 NE 2d 306 Cook v. Brundidge 533 SW2d 751 ii. Exceptions

Article 1818 b. Share in Profits

Articles 1797, 1799 b. Right to Associate Another/Authorize Admission

Article 1804 c. Access to Books and Information

Article 1805 Bautista p. 199 d. Formal Account

Updated on 26 November 2011

19

Article 1809 Bautista p. 201 e. Property Rights

Article 1810 i. Rights to Specific Partnership Property

Article 1811 Bautista pp. 147-148, 155-156, 164 ii. Interest in the Partnership

Article 1812 -1814 Bautista 175-177 Bohonus v. Amerco 602 P2d 469 First National Bank v. District Court 652 P2d 613 iii. Right to Participate in the Management

See IV (A)( 1) (a) f. Conveyance of Property in Partnership Name

Articles 1774, 1819 Hodge v. Garett 614 P2d 420 Backowski v. Solecki 316 NW 2d 434 2. Right of Managing Partners

Article 1800-1801 B. 1. a. Obligations of Partners Partners in General Contribution

Articles 1786 par. 1, 1790 i. Sum of Money

Updated on 26 November 2011

Article 1788 ii. Specific and Determinate Things

20

Article 1786 par. 2 iii. Goods

Article 1787 b. Additional Capital

Article 1791 c. Alteration in Immovable Property

Article 1803 (2) d. Bring to Partnership Capital Credit Received

Article 1793 e. Responsible for Damage Suffered by the Partnership

Article 1794 f. Bear Risk of Loss of Specific and Determinate Things

Article 1795 g. Share in Losses

Articles 1797- 1799 h. Account for Benefits

Article 1807 i. Liable for Partnership Contracts

Article 1816- 1817 De Leon & De Leon Jr. p. 170 Muasque v. CA, G.R. No. L-39780, November 11, 1985
Updated on 26 November 2011

j.

Solidarily Liable with the Partnership for Wrongful Acts or Omissions

21

Articles 1822- 1824 2. New Partners

Article 1826 3. Industrial Partners

Article 1789 4. a. Managing Partners Application of Sums Received

Articles 1792, 1252, 1292 b. Concurrence of Other Managing Partners Article 1802 5. Capitalist Partner

Article 1808 V. OBLIGATIONS OF THE PARTNERSHIP A. Bound by Authorized Acts of Partners

Article 1803, 1818 B. Bear Risk of Certain Types of Contribution

Article 1795 C. Repay Disbursement of Partners

Article 1796 D. Bound by Admission or Representation

Article 1820 E. Bound by Notice to Partner

Updated on 26 November 2011

22

Article 1821 F. Liability for Loss or Injury

Article 1822 G. Misapplication of funds

Article 1823 VI. A. 1. Dissolution Meaning and Effect ENDING THE PARTNERSHIP

Article 1828 - 1829 Rojas v. Maglana G.R. No. 30616, December 10, 1990. 2. a. Causes Without Violating the Partnership Agreement

Articles 1830 (1), 1813 b. In Contravention of the Partnership Agreement

Article 1830 (2) c. By Operation of Law

Article 1830 (3)-(7) d. By Decree of Court

Articles 1830 (8), 1831, 1813-1814 3. a. Consequences of Dissolution Continuation Until Winding Up

Article 1829
Updated on 26 November 2011

23

b.

Termination of Authority to Act for Partnership

Articles 1832-1834 LeMay Bank v. Lawrence, 710 SW2d 318 c. Discharge of Liabilities

Article 1835 d. i. Election to Continue the Business Dissolution Not Due to Wrongful Causes

Lange v. Bartlett 360 NW2d 702 ii. Dissolution Due to Wrongful Causes

Article 1837 e. Liability of Person/Partnership Continuing the Business

Article 1840 Yu v. NLRC, G.R. No. 97212, June 30, 1993 4. a. Rights of Partners Upon Dissolution Right to Wind Up

Article 1836 b. Right to Damages for/Continue Business on Wrongful Dissolution Article 1837 c. Right to Lien or Retention, Stand in Place of Creditor, to be Indemnified

Article 1838 d. Right of Retiring/Deceased Partner

Article 1841 e. Right to Account

Updated on 26 November 2011

24

Article 1842 B. 1. 2. Winding-Up and Liquidation Meaning of Winding-up The Right to Wind-up

Article 1836 3. 4. 5. The Liquidating Partner Period for WindingUp Rules on Settling Accounts

Article 1839 Mahan v. Mahan 489 P2d 1197 6. Right of Creditors

Articles 1827, 1839 7. Right of Expelled Partner

Article 1837 VII. LIMITED PARTNERSHIP A. B. C. Source of Limited Partnership Law Purpose of Limited Partnerships Definition and Formation

Articles 1843 - 1844 D. Corporation as Partner

23 February 1994 SEC Opinion to Messrs. Tale and De Dios 17 August 1995 SEC Opinion to Attys. Espinosa and Hofilea 7 September 1998 SEC Opinion to Romulo, Mabanta
Updated on 26 November 2011

25

E. 1.

The Certificate Liability for False Statements

Article 1847 2. Cancellation and Amendment

Articles 1864 - 1865 F. The Partnership Name

Article 1846 G. 1. The Limited Partner Contribution

Article 1845 2. a. Liability In General

Article 1848 b. To the Partnership

Article 1858 c. Additional Limited Partners

Article 1849 3. a. Rights of a Limited Partner In Common with a General Partner

Article 1851 b. Loan Money from/Transact Business with Partnership

Article 1854
Updated on 26 November 2011

26

c.

Return of Contribution

Articles 1857, 1855 d. To Dissolve

Article 1857 e. Share of Profits

Article 1856 f. Assignment of Interest

Article 1859 g. Immunity from Suit Against the Partnership

Article 1866 4. Effect of Death

Article 1861 5. Charging Interest

Article 1862 H. Person Erroneously Believing He is a Partner

Article 1852 I. General Partner

Articles 1850, 1853 J. Limited and General Partner Article 1853 K. Dissolution

Article 1860 Najim v. De Mesa SEC Case No. 2526, September 21, 1987
Updated on 26 November 2011

27

L.

Preference of Credits

Article 1863

Updated on 26 November 2011