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Types of Partners (GeLiCa InMaLiNo OsSeSilDo) Difference between CPG and Partnership

1. General Partner liable up to the extent of his 1. Parties


separate properties 2. Law
2. Limited Partner liable only up to the extent of his 3. Personality
investment 4. Commencement
3. Capitalist Partner one who contributes money or 5. Purpose
property to the common fund 6. Distribution of Profit
4. Industrial Partner one who contributes his services 7. Management
or industry to the partnership 8. Disposition of shares
5. Managing Partner one who manages the affairs of
the partnership
6. Liquidating Partner one who is in charge of the
winding up of the affairs of the partnership after it is
dissolved
7. Nominal Partner partner by estoppel, one who is
not a partner but represents himself as a partner to
third persons
8. Ostensible Partner one who is active and known to
the public as a partner
9. Secret Partner a partner who participates in the
management of the business but is not known to the
public as a partner.
10. Silent Partner a partner who has no voice in the
management of the business (though he shares in
the profits and losses)
11. Dormant Partner a partner who does not
participate in the management of the business and
not known to the public as a partner.
12. Continuing Partner
13. Surviving Partner
Four relationships created in a Contract of Partnership

1. Partners between themselves


2. Partners and the partnership
3. Partnership and third persons
4. Partner and third persons

I. Partners between themselves

a. Obligations of partners

To contribute equally to the capital of the


partnership unless there is a stipulation. (1790)
With regard to contribution of property:
o To deliver the contribution at the time it
was constituted or on the date stipulated.
o To take care of the property before its
delivery with the diligence of a good
father of a family.
o To be liable for damages in case of
default.
o To answer for eviction in case the
partnership is deprived of the specific or
determinate thing he has contributed to
the partnership.
o To be liable for the fruits of the thing
from the time they should have been
delivered without need of any demand.
With regard to contribution of money:
o To deliver the contribution at the time it
was constituted or on the date stipulated.
o To pay interest on the amount he has
promised in case of default
o To pay damages suffered by the
partnership in case of default.

II. Partners and Partnership

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