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DISTINCTIONS - Coggle Diagram

- - - - JOINT ADVENTURE
        
        JOINT ACCOUNTS
        
        CUENTAS EN PARTICIPACION
  - - - DIFFERENCE: DISTRIBUTION OF SHARES IN PARTNERSHIP (1797) :
        GR: Losses and profits shall be distributed
        in conformity with the agreement. (If only the share of each partner in the profits has been agreed upon, the share of each in the losses shall be in the same proportion.)
        XCPN: In the absence of stipulation, the share of each partner in the profits and losses shall be in proportion to what he may have contributed
      - DIFFERENCE:
        In a co-ownership, benefits and losses are always proportional to the interests of the co-owners. | In a partnership, partners can agree otherwise.
    - - LIKE IN A PARTNERSHIP, NONE OF THE PARTNERS MAY MAKE ALTERATIONS
        SUBSTANTIAL CHANGES
        Sir emphasizes on "substantial changes."
    - - Should there be no majority, or should the resolution of the majority be seriously prejudicial to those interested in the property owned in common, the court, at the instance of an interested party, shall order such measures as it may deem proper, including the appointment of an administrator.
        Whenever a part of the thing belongs exclusively to one of the co-owners, and the remainder is owned in common, the preceding provision shall apply only to the part owned in common.
- - - - ARTICLES + CONTRACT MAY COEXIST
        There can be both an articles of partnership and a private contract of partnership
        
        BUT ONLY ARTICLES IS BINDING ON THIRD PERSONS
        When both coexist, the private contract of partnership is not binding on third persons. Only the Articles is because that is registered with the SEC.
  - - - CIRCUMSTANCES SUPPORTING PARTNERSHIP(1769 (4))
        
        The receipt by a person of a share of the profits of a business is prima facie evidence that he is a partner in the business, but no such inference shall be drawn if such profits were received in payment:
        
        (a) As a debt by installments or otherwise;
        (b) As wages of an employee or rent to a landlord;
        (c) As an annuity to a widow or representative of a deceased partner;
        (d) As interest on a loan, though the amount of payment vary with the profits of the business;
        (e) As the consideration for the sale of a goodwill of a business or other property by installments or otherwise. (n)
        
        PRIMA FACIE EVIDENCE: RECEIPT OF SHARE OF PROFITS
        The receipt of share of profits shall be prima facie evidence of a partnership, meaning if no rebuttal evidence is admitted, prima facie presumption holds.