- Statute
- Philippine Civil Code
- Article
- Art. 1772
- Topic
- General Provisions
- Status
- In force, as amended
- Book
- BOOK IV Obligations and Contracts
- Title
- TITLE IX PARTNERSHIP
- Chapter
- CHAPTER 1 General Provisions
- Year
- 1949
- Cited by
- Multiple Supreme Court decisions
The provision
Every contract of partnership having a capital of three thousand pesos or more, in money or property, shall appear in a public instrument, which must be recorded in the Office of the Securities and Exchange Commission. Failure to comply with the requirements of the preceding paragraph shall not affect the liability of the partnership and the members thereof to third persons. (n)
Intellegal Wiki · In plain terms
A partnership whose capital is three thousand pesos or more, in money or property, must be put in a public instrument and recorded with the Securities and Exchange Commission. Failing to do so does not, however, affect the liability of the partnership and its partners toward third persons.
An editorially maintained plain-language explanation of this provision — not legal advice.
Cases applying this article
- Lourdes Navarro v. Court of Appeals
- Sunga-Chan v. Chua G.R. No. 143340