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Partnership, Agency and Trust - Paras & Pineda

Partnership is a contract between two or more persons to contribute money, property, or industry to a common fund with the intention of dividing profits or exercising a profession jointly. The law considers the joint pursuit of a profession, for mutual help as a partnership, even if it is not a business undertaking or enterprise for profit.

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Jill Betia
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226 views

Partnership, Agency and Trust - Paras & Pineda

Partnership is a contract between two or more persons to contribute money, property, or industry to a common fund with the intention of dividing profits or exercising a profession jointly. The law considers the joint pursuit of a profession, for mutual help as a partnership, even if it is not a business undertaking or enterprise for profit.

Uploaded by

Jill Betia
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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PARTNERSHIP, AGENCY AND TRUST Paras

& Pineda

ARTICLE 1767
Partnership contract whereby 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 or in order to exercise a
profession
*Exercise of a profession not a business taking nor an enterprise for
profit the law considers the pursuit joint thereof, for mutual help as a
partnership.

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