Question

Three of the following are the effects if immovable property is contributed in a partnership but the contract did not appear in a public instrument. Which is the exception?

a. A partnership has no judicial personality.
b. The parties may compel each other to observe the required form.
c. The parties may request the return of their capital contribution.
d. The contract of partnership is void.

Answer 1

In a partnership, if immovable property is contributed but the contract does not appear in a public instrument, the parties may request the return of their capital contribution. The other effects of such a situation are: a partnership has no judicial personality and the contract of partnership is void.

Step-by-step explanation:

In a partnership, when immovable property is contributed but the contract does not appear in a public instrument, the exception is that the parties may request the return of their capital contribution.

The other effects of such a situation are:

1. A partnership has no judicial personality.
2. The parties may compel each other to observe the required form.
3. The contract of partnership is void.

It is important to note that in a partnership, immovable property refers to property that includes the right to enter into contracts with other parties with your property. It is also important for individuals or firms to own the property in order to enter into a contract.

Partnerships have the disadvantages of partners being responsible for each other's acts and the limited life of the partnership. However, partnerships also have advantages such as easy start-up, ease of management, and the ability to attract investors.