Text of the provision
Art. 1777. A universal partnership may refer to all the present property or to all the profits.
(1672)
Civil Code of the Philippines, Republic Act No. 386, approved June 18, 1949, effective August 30, 1950. Reproduced in full; verified verbatim against the LawPhil and ChanRobles official-text renderings.
What this article means
A universal partnership may cover all present property or all profits.
Where a particular partnership is formed around a specific undertaking or specific property, a universal partnership is defined by its breadth rather than by any single project. This article marks out the two forms that breadth can take: partners may pool all the property each currently owns, or, more narrowly, may pool only the profits that property and their efforts will generate going forward, without transferring ownership of the underlying assets themselves. The distinction matters because each form carries its own consequences for what the partners actually own individually once the arrangement is in place, a question the subsequent articles in this Title take up in turn.
Questions about this provision
- What is the difference between a universal partnership and a particular partnership?
- What are the two kinds of universal partnership under the Civil Code?
Related provisions
- Article 1776 — Classes of Partnership.
- Article 1778 — Universal Partnership of All Present Property.
Cases interpreting this article
- Authorities on this article will be added here as each is verified against primary sources.