Business Law, Articles

Incidents that could mean an existence of confederation ** all(a)ot in profits and losses, equal rights to management, every partner binds the other partners, all partners are liable or debts except partners with limited liabilities, partners have a relation, dissolution does non terminate the coalition but continues until the partnership is immaculate again. 3. 7. fusion distinguished from co- ownership Co-ownership ownership Of an undivided thing or right belongs to different persons Difference of co-ownership and partnership as toCreation co-ownership is created by law, it may exist even without a contr fare, while a partnership is created by contract. Juridical personality -? co- ownership has a separate discriminative parties while partnership has n wholeness. Repose co-ownership super acid enjoyment of something or a right, partnership profit Duration co-ownership 10 years, partnership no demarcation Disposal of interest (share in profit) partnership cannot dispose interest without react of all partners, co-ownership may freely do so Power to act with third persons partner could bind the partnership, co- owner could not bind the co-ownership.Only one judgment against co- owners does not bind the other co-owners. Effect of death co-ownership does not necessarily dissolve co-ownership, partnership dissolves (A & B greed to share g-force pesos to buy a land that would be divided as amongst them co-ownership, because there is no organisation that it would be used for business purposes. ) 3. 8. Partnership distinguished from connubial partnership of gains Conjugal partnership gains formed by marriage wherein husband and wife place in a common fund the income from their separate properties Difference of business partnership and conjugal partnership as toParties business instinctive agreement Of two or more, conjugal husband and wife agrees Laws which govern business governed y stipulation (agreement) of parties, conjugal by law Juridical personality business has separate discriminative personality, conjugal none Commencement (beginning) partnership from execution of contract (unless stipulated), conjugal from celebration of marriage, stipulation is void Purpose business profit, conjugal mildew properties of husband and wife Distribution of profits business according to agreement or in proportion to the capital shared, conjugal divided equally Management business equally, unless one is appointed as manager, conjugal husbands decisions nurse Disposition of hares business may be disposed without the consent of the others, conjugal cannot be disposed during marriage, even with consent 3. 9. Partnership distinguished from voluntary associations.