Category Archives: Partnership

ORTEGA V. CA, – G.R. NO. 109248, JULY 3, 1995

Facts: Petitioner filed with this Commission’s Securities Investigation and Clearing Department (SICD) a petition for dissolution and liquidation of partnership. The hearing officer rendered a decision ruling that petitioner’s withdrawal from the law firm Bito, Misa & Lozada did not dissolve the said law partnership. On appeal, the SEC en banc received the decision ofContinue reading “ORTEGA V. CA, – G.R. NO. 109248, JULY 3, 1995”

CIR V. WILLIAM SUTER, – G.R. NO. L-25532, FEBRUARY 28, 1969

Facts: A limited partnership was formed by Suter as the general partner, and Spirig and Carlson, as the limited partners. In 1948, however, Suter and Spirig got married and, thereafter, limited partner Carlson sold his share in the partnership to Suter and his wife. The limited partnership had been filing its income tax returns asContinue reading “CIR V. WILLIAM SUTER, – G.R. NO. L-25532, FEBRUARY 28, 1969”

TUASON V. BOLANOS, – G.R. No. L-4935, May 28, 1954

Facts: J.M Tuason & Co. Inc. represented by its managing partner, Gregoria Araneta, Inc. filed a complaint about the recovery of possession of land against Bolanos before the Court of First Instance of Rizal, Quezon City Branch on the allegations that the land in dispute is covered by plaintiff certificate of title which is allegedlyContinue reading “TUASON V. BOLANOS, – G.R. No. L-4935, May 28, 1954”

PASCUAL V. CIR, – G.R. NO. 78133, OCTOBER 18, 1988

Facts: Pascual and Dragon bought two (2) parcels of land and a year after, they bought another three (3) parcels of land. They subsequently sold the said lots in 1968 and 1970, and realized net profits. The corresponding capital gains taxes were paid in 1973 and 1974 by availing of the tax amnesties granted inContinue reading “PASCUAL V. CIR, – G.R. NO. 78133, OCTOBER 18, 1988”

OBILLOS V. CIR, – G.R. NO. L-68118, OCTOBER 29, 1985

Facts: The children of Jose Obillos Sr. are co-owners of parcel of lots. The children sold the lots to Walled City Securities Corporation and Olga Canada. The children treated the profit as a capital gain to which they paid an income tax. After some time, the Commissioner of Internal Revenue required the children of ObillosContinue reading “OBILLOS V. CIR, – G.R. NO. L-68118, OCTOBER 29, 1985”

GATCHALIAN V. CIR, – G.R. NO. L-45425, APRIL 29, 1939

Facts: A group of fifteen (15) people contributed to buy a sweepstake ticket and they named it “Jose Gatchalian & Company”. The sweepstake ticket won the prize of 50,000 pesos. A check was given to Jose Gatchalian & company. Then, the check was encashed by Jose Gatchalian. Jose Gatchalian was required by income tax examinerContinue reading “GATCHALIAN V. CIR, – G.R. NO. L-45425, APRIL 29, 1939”

SEC OPINION DATED FEBRUARY 29, 1980

From: Rosario N. Lopez, Director, Corporate and Legal Department of SEC To: Antonio E. Librea, Acting Director, Legal Service, Office of the Minister Ministry of Public Highways Issue: Whether two or more medium-size corporations (contractors) may enter into a partnership or joint venture/consortium for the purpose of qualifying in terms of capitalization and equipment inContinue reading “SEC OPINION DATED FEBRUARY 29, 1980”

ROSARIO U. YULO vs. YANG CHIAO SENG – G.R. No. L-12541, August 28, 1959

Facts: On 17 June 1945, defendant Yang Chiao Seng proposed to Mrs. Rosario Yulo the formation of a partnership between them to run and operate a theatre in Manila. Plaintiff Mrs. Yulo accepted. The parties executed a partnership agreement establishing “Yang & Company, Limited”. The capital is fixed at PhP 100,000, PhP 80,000 of whichContinue reading “ROSARIO U. YULO vs. YANG CHIAO SENG – G.R. No. L-12541, August 28, 1959”