True/ false 44. A partnership must have a lawful object or 36. Partnership with a capital of three thousand purpose, and must be established for the common pesos or more, in money or property, shall appear in benefit or interest of the partners. a public instrument and recorded at SEC. Failure shall not affect the liability of the partnership and 45. When an un lawful partnership is dissolved by a members thereof to third person. judicial decree, the profits and partners contributions shall be confiscated in favor of the 37. Whenever immovable property is contributed, State. an inventory of said property is needed, signed by the parties and attached to the public instrument, otherwise the contract of partnership is void. 38. Co- ownership or co- possession does not in itself establish a partnership, except when such co- owners or co- possessors share in the profits made by the use of the property. 39. The sharing of gross returns does not itself establish a partnership, except when the persons sharing them have a joint or common right or interest in any property from which the returns are derived. 40. The receipt by a person of a share of the profits of a business is conclusive evidence that he is a partner in the liabilities 41. A partnership of all present property is where the partners contribute all property which actually belong to them to a common fund, with the intention of dividing the same among themselves, as well as all the profits which they may acquire therewith. 42. In a universal partnership of all present property, the property which belong to each of the partners At the time of constitution of the partnership becomes a common fund of all partners and all profits which they may acquire therewith. A stipulation for the common enjoyment of any profits may also be made. But properties which they may acquire through inheritance, legacy, or donation cannot be included in such stipulation, except the fruits thereof. 43. The universal partnership if profits comprise all that the partners may acquire by industry or work During the existence of the partnership. Movable or mmovable property which each may possess at the time of the celebration of the contract shall continue to pertain exclusively to each, only the usufruct passing to the partnership