Practice question
Two agreements use the label partnership: one specifically pools all present property in the statutory universal form; another concerns only joint exercise of a profession. A reviewer says identical labels necessarily give both the same property scope. Which is correct?
- Every partnership automatically includes all present property
- The actual object and selected statutory kind determine scope, not the generic label alone
- Every professional practice is necessarily universal
- A contract title overrides all operative terms
- Only the partners’ ages decide the kind
Legal references
- Civil Code, RA 386: https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/53360; Articles 1778,1780,1783.
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