Assignment of credits and Partnership having a capital of P3,000.00 or more – Articles 1625 and 1772 of the Civil Code

Assignment of credits and Partnership having a capital of P3,000.00 or more – Articles 1625 and 1772 of the Civil Code

 ASSIGNMENT OF CREDITS AND OTHER INCORPOREAL RIGHTS

Art. 1625. An assignment of a credit, right or action shall produce no effect as against third person, unless it appears in a public instrument, or the instrument is recorded in the Registry of Property in case the assignment involves real property. (1526)

 

CONTRACT OF PARTNERSHIP HAVING A CAPITAL OF THREE THOUSAND PESOS OR MORE, IN MONEY OR PROPERTY

Art. 1772. Every contract of partnership having a capital of three thousand pesos or more, in money or property, shall appear in a public instrument, which must be recorded in the Office of the Securities and Exchange Commission.

Failure to comply with the requirements of the preceding paragraph shall not affect the liability of the partnership and the members thereof to third persons. (n)