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University of the East

College of Law

Syllabus for Partnership, Agency & Trust


by Atty. Manolito S. Soller, CPA

PARTNERSHIP
(Arts. 1767 to 1867 of the Civil Code)

I. Introduction
a. Brief Historical Background
b. Sources of Philippine Partnership Laws
i. Old Civil Code
ii. US Uniform Partnership Act
iii. US Uniform Limited Partnership Act
iv. Code of Commerce
v. Spanish Civil Code

II. Contract of Partnership


a. Definition
b. Concepts
i. Philippine setting
ii. Western setting
iii. British setting
c. Elements
i. Consensual
ii. Nominate
iii. Bilateral
iv. Onerous
v. Commutative
vi. Principal
vii. Preparatory

d. Features
i. Valid contract - requisites
ii. Legal capacity
a. Individuals
i. Who cannot enter into a partnership
b. Partnership
c. Corporation
e. Mutual contribution to a common fund
i. Property vs Capital
ii. Credit
iii. Possession/use
iv. Industry
f. Lawful/unlawful object
g. To obtain and divide profit as primary purpose
i. As compared to division of sales or gross income/collection
ii. How about losses?

h. General Professional vs Business


i. Fiduciary relationship – delectus personae
III. Juridical Person
a. Liability of partnership
i. To the partners
ii. To third parties
iii. To the State
b. Representative
i. Law on Agency
c. How authority granted
d. Commencement
i. Registration vs recording with SEC
ii. Consensual Partnerhsip
iii. Statute of Fraud

IV. Rules to determine existence of Partnership


a. Burden of proof
b. Presumption
c. Test and incidence of partnership

V. How partnership is formed and managed


a. Consensual
b. Formalities
i. In public instrument; recording with SEC
ii. Contribution of Php3,000 or more
iii. Contribution of immovable property
a. Inventory – public instrument
c. General Partner vs Limited Partner
d. Capitalist Partner vs Industrial Partner
e. Managing Partner vs General Partner
f. Continuing/Surviving vs Retiring /Incoming

VI. Partnership term


a. With a period
b. Indefinite period
c. At will vs fixed term
i. How/when terminated
VII. Universal vs. Particular
a. Coverage
b. Who can/can’t form
VIII. General Partnership vs. Limited Partnership
IX. De jure vs de facto partnership
X. Ordinary or real vs ostensible or by estoppel
XI. Secret vs open
XII. Professional vs business
XIII. Partnership compared with –
i. Labor Union
a. Purpose
ii. Business Trust
a. Principal-agency
b. Ownership of property
iii. Co-ownership
a. Creation
b. Juridical personality
c. Purpose
d. Duration
e. Disposal of interest
f. Power to act with third party
g. Effect of death
iv. Conjugal partnership of gains
a. Parties
b. Governing law
c. Juridical personality
d. Commencement
e. Purpose
f. Distribution of profits
g. Management
h. Disposition of share
v. Voluntary association
a. Juridical personality
b. Purpose
c. Contribution of members
d. Liability of members
vi. Corporation
a. Manner of creation
b. Number of members/incorporators
c. Commencement of personality
d. Powers/Management
e. Effect of mismanagement
f. Right of succession
g. Liability to third persons
h. Transfer of interest
i. Term of existence
j. Firm name
k. Dissolution
l. Governing law

XIV. Kinds of Partners


a. Capitalist
b. Industrial
c. General
d. Limited
e. Managing
f. Liquidating
g. Partner by estoppel
h. Continuing partner
i. Surviving partner
j. Others
i. Subpartner
ii. Ostensible
iii. Secret
iv. Silent
v. Dormant
vi. Original
vii. Incoming
viii. retiring

XV. Rights and Obligations of Partners


a. Among Themselves – fiduciary
b. To the Partnership
c. Property rights
i. Conveyance
ii. Authorization
iii. ratification
d. To Third Persons
i. Firm name
ii. Name in the firm name

XVI. Obligations of Partnership to Third Persons


a. Torts or breach of trust
b. Criminal
c. Contractual
i. Pro-rata
ii. Subsidiary or secondary
iii. Liability vs loss

XVII. Dissolution, winding up, termination


a. Effects
b. Causes
c. Change of partners
d. Rules in settling accounts between partners
e. End of legal life of the partnership

XVIII. Limited Partnership


a. Definition
b. Concept and characteristics
c. How limited partnership is formed/amended
d. Rights and obligations of a limited partner
i. Contribution
ii. Share in profits
iii. Return of contribution
iv. Act of administration
v. Name in firm name
e. General partner compared with limited partner
f. Dissolution of limited partnership

AGENCY
(Art. 1868 – 1932 of the Civil Code)

I. Definition of Agency, elements


II. Powers (Arts. 1877-1878)
A. To bind principal (Arts. 1897-1902)
B. Exception (Art. 1883)
III. Express vs. Implied Agency
IV. Agency by Estoppel
V. General vs. Special Agency
VI. Agency Couched in General Terms
VII. Agency Requiring Special Power of Attorney
a. Agent filing a case against a third party or a seller’s agent filing a case vs buyer
b. Sale with SPA requires higher degree of prudence
c. Agency coupled with interest
VIII. Agency by Operation of Law
a. Partners in Partnership
b. Directors in a Corporation
c. Government Officials
IX. Rights and Obligations of Principal
a. How principal is bound in a deed thru SPA
b. Imputed knowledge theory
X. Irrevocable Agency (Arts. 1927-1930)
XI. Modes of Extinguishment

TRUST
(Art. 1440 – 1457 of the Civil Code)

I. Definition
II. Concepts
III. Parties
IV. Properties covered by trust
d. Purchase made by a Trustee
i. Personal/Trust property
e. Sale of property paid by another
f. Property donated for the benefit of another
g. Inherited property in the name of a party not the heir
h. Co-owned property
i. Property secured for the performance of grantor’s obligation
j. Property acquired through mistake ir fraud
V. Character/nature of office of Trustee
VI. Classification
VII. Elements/kinds of Express Trust
VIII. Elements/kinds of Implied Trust
k. Proof of implied trust
IX. Distinction between Express and Implied
X. Repudiation by a Trustee
XI. Laches in action to enforce trust
XII. Termination of Trust

CASES TO READ AND STUDY

I - Partnership

1. Evangelista vs CIR, GR L-9996, Oct. 15, 1957, see also Pascual vs CIR, GR 78133 Oct. 18, 1988
2. Aurbach vs Sanitary Wares Manufacturing, 180 SCRA 130 (1989)
3. Aguila vs CA, 316 SCRA 246 (1999)
4. Mendiola vs CA, 497 SCRA 346 (2006)
5. Jarantilla vs Jarantilla, GR 154486, December 1, 2010
6. Heirs of Lim vs Lim, GR 172690, March 3, 2010 (how P is determined without Art of P)
7. Torres vs CA, 320 SCRA 428 (1999)
8. Lim Tong Lim vs Phil Fishing Gear Industries, Inc. 317 SCRA 728 (1999)
9. Oña vs CIR, 45 SCRA 74 (1972)
10. Tocao vs CA, 342 SCRA 20 (2000) G.R. No 127405 04 October 2000
11. CIR vs Suter, 27 SCRA 152 (1969)
12. Emnace vs CA, 370 SCRA 431 (2001)
13. Munasque vs CA, 139 SCRA 533 (1985)
14. Claridades vs Mercader, 17 SCRA 1 (1966)
15. Ortega vs CA, 245 SCRA 529 (1995)
16. In the matter of the Pet for Authority to Continue Use of Firm Name “Sycip
Salazar”/”Ozaeta, Romulo”, 92 SCRA 1 (1979)
17. Evangelista & Co vs Abad Santos, 51 SCRA 416 (1973)
18. Goquilay vs Sycip, 9 SCRA 663 (1963)
19. Primelink Properties & Devt vs Lazatin et al, GR 167379, June 27, 2006
20. Estanislao, Jr. vs CA, GR L-49982 April 27, 1988
21. Manguiob vs Judge Arcangel et al, GR 152262, February 15, 2012
22. Pideli vs PP, GR 163437, February 13, 2008 (theft of partnership money by a partner)

II - Agency

1. Bordador vs Luz, 283 SCRA 374 (1997)


2. Tuazon vs Heirs of B. Ramos, 463 SCRA 408 (2005)
3. Uy vs CA, 314 SCRA 69 (1999)
4. Heirs of Sarili vs Lagrosa , GR 193517, January 15, 2014
5. Nocanora Bucton vs RB of El Salvador, GR 179625 February 24, 2014
6. Sunace Intl Management Svs vs NLRC, 480 SCRA 146 (2006), GR 161757, Jan 25, 2006
7. Naguiat vs CA, 412 SCRA 591 (2003), GR 118375, Oct. 3, 2003
8. Lim vs Saban, 447 SCRA 232 (2004), GR 163720, Dec. 16, 2004
9. Ramos vs CA, 63 SCRA 331 (1975), GR l-25463, April 4, 1975
10. Fabay vs Resuena, AC No. 8723, January 26, 2016
11. Sison vs Camacho, AC 10910, January 12, 2016
12. BPI vs Yolanda Laingo, GR 205206, March 16, 2016

III – Trust

1. Deluao vs Casteel, 26 SCRA 415 (1968) and 29 SCRA 350 (1969)


2. Advent Capital & Finance Corp. vs Alcantara, 664 SCRA 224 (2012)
3. Goyanko vs UCPB, 690 SCRA 79 (2013)
4. Iglesia Filipina Independiente vs Taeza, GR 197597, February 3, 2014
5. Torbila vs Rosario, 661 SCRA 633 (2011)
6. Lopez vs CA, 574 SCRA 26 (2008)
7. Jarantilla vs Jarantilla, GR 154486, Dec. 1, 2010
8. Estate of Cabacungan vs Laigo, GR 175073, August 15, 2011
9. Aznar Brother Realty vs Aying, GR 144773, May 16, 2005