Article 1767

RA 386 · Civil Code of the PhilippinesKey provision

ELI5— what this means for you

A partnership is formed when two or more people agree to contribute money, property, or work to a shared fund so they can split the profits — people can also form a partnership just to practice a profession together.

Official text — RA 386

By the contract of partnership two or more persons bind themselves to contribute money, property, or industry to a common fund, with the intention of dividing the profits among themselves.

Two or more persons may also form a partnership for the exercise of a profession. (1665a)

Source: lawphil.net (RA 386 as amended)

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