Professional Documents
Culture Documents
Course Outline
A – LAW ON PARTNERSHIP:
Concept of partnership, characteristics, elements and essential
features. Art. 1767
Partnership as a juridical person. Art. 1768
Rules to determine existence of partnership. Art. 1769
Partnership distinguished from other forms of organization or
association
Formalities and object of partnership. Art. 1770-Art.1775
Classification of partnerships; Kinds of partnerships. Art. 1776-Art.
1783
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F – OBLIGATIONS OF PARTNERS TO THIRD PERSONS
Liability for contractual obligations. Art. 1815-Art. 1816
Stipulation against liability. Art. 1817
Conveyance of real property. Art. 1819
Admission by partner. Art. 1820
Notice or knowledge by a partner. Art. 1821
Liability of partner for wrongful acts. Art. 1822-Art. 1824
Partner by estoppel. Art. 1825
Liability of incoming partner. Art. 1826
Preference of partnership creditors in partnership property. Art.
1827
H – LIMITED PARTNERSHIP
Concept, characteristics, purpose, distinction between general
and limited partnership. Art. 1843
Requirements in the formation; presumption of general
partnership. Art. 1844
Partner’s contribution, liability of his surname appearing in the
partnership name, liabilities and rights and powers of general
partners. Art. 1845-1850
Rights in general of a limited partner. Art. 1851
Status where there is failure to create limited partnership and status
where one is both a general and limited partner at the same time.
Art. 1852
Transactions of limited partners, preferred compensation of limited
partners. Art. 1853-1856
Return of contribution, liability of limited partner. Art. 1857-1858
Substituted limited partner. Art. 1859
Effect of retirement, death, of a limited partner. Art 1860
Right of executor, rights of creditors. Art. 1861-1862
Priority in the distribution of assets. Art. 1863
Cancellation of certificate. Art. 1864-1865
Limited partner, a mere contributor. Art. 1866
II.
A – LAW ON AGENCY
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Concept, characteristics, essential elements, nature and basis,
parties, capacity of parties, acts that may be delegated to
agents. Art. 1868
Kinds, form of acceptance, revocation of agency. Art. 1869-1873
Sale of land through agent. Art. 1874
Presumption as to compensation. Art. 1875
General and special agency. Art. 1876
Agency couched in general terms, acts of administration. Art. 1877
When special powers required. Art. 1878
Scope of authority to sell and to mortgage, special power to
compromise and submit to arbitration. Art. 1879-1880
Authority of agent, kinds. Art. 1881-1882
Kinds of principal. Art. 1883
3
Agency generally revocable at will by principal; liability of
principal for damage caused by revocation; kinds of revocation.
Art. 2020
Effect of revocation in relation to third persons. Art. 1921 – 1922
Revocation by appointment of new agent; revocation by direct
management of business by principal himself; revocation by one
of two or more principals. Art. 1923 – 1925
Partial revocation of general power. Art. 1926
When agency irrevocable; agency couple with an interest. Art.
1927
Right of agency to withdraw. Art. 1928
Obligation of agent to continue to act after withdrawal. Art. 1929
When death of principal does not terminate agency; validity of
acts of agents after death of principal; duty agent’s heirs. Art. 1930
– 1932
III. TRUST
A. INTRODUCTORY COMMENT
Trust defined. Characteristics of a Trust. Trust distinguished from
Guardianship or Executorships Trust distinguished from a stipulation
Pour Autrui. Co-ownership as Trust; Parties to a Trust. Elements of
a trust. Art. 1440
Classification of Trust. Art. 1441
Suppletory Effect of the General Law of Trust. Comment of the
Code Commission. Art. 1442
B. EXPRESS TRUSTS
Formalities Re Express Trusts. Distinguished from the Formalities of an
Implied Trust. Art. 1443
How an Express trust is created. Clear intent, capacity,
administration of the trust. Art. 1444
Effect if Trustee Declines. Art. 1445
Necessity of acceptance by the beneficiary. When acceptance
is presumed. How Express Trusts are ended. Art. 1446
C. IMPLIED TRUSTS
Enumeration of instances of Implied Trust. Art. 1447
Purchase of property where title is not given to payer but to
another; rule if document expresses a different intent. Art. 1448
When donee does not get full ownership of benefit. Art. 1449
Conveyance of property so that it may serve as security; trust
receipt. Art. 1450
When title to inherited land is not in the owner’s name; Rule in Co-
ownership; paraphernal properties registered under the husband’s
name; Title in the name of the surviving husband. Art. 1451
When property is in the name of only one of the co buyers;
Presumptions that share are equal. Art. 1452
When a person declares his intent to hold property for someone
else. Art. 1453
Absolute conveyance made for security purpose. Art. 1454
Use of Trust Funds; Applicability of Article, example. Reasons for the
rule, cases. Art. 1455
4
Property acquired thru mistake or fraud, nature of the mistake or
fraud, against whom the right must be exercised, when the article
does not apply, query and how to prove trust. Ar. 1456
Proof of Implied Trust, Oral Evidence for Trust Must be trustworthy.
References:
De Leon, Hector, THE LAW ON PARTNERSHIPS AND PRIVATE
CORPORATIONS, Latest Edition, Rex Printing Co.
Paras, Edgardo, CIVIL CODE OF THE PHILIPPINES ANNIOTATED, Book
V, Latest Edition, Rex Printing, Co.
Villanueva, Cesar L. and Villanueva-Tiansay, Teresa S., AGENCY &
TRUSTS, PARTNERSHIPS & JOINT VENTURES, 2018 Edition, Rex
Bookstore.