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ALTERNATIVE ANSWER:
TRUE. Partnership is a consensual
contract, hence, it is valid even though not in
writing. The oral contract of partnership is also
valid even if an immovable property or real
right is contributed thereto. While the law, in
such a case, requires the partnership to be in a
public document, the law does not expressly
declare the contract void if not executed in the
required form (Article 1409 (7 ,NCC ). And
there being nothing in the law from which it
can be inferred that the said requirement is
prohibitory or mandatory (Article 5, NCC), the
said oral contract of partnership must also be
valid. The interested party may simply require
the contract to be made into a public
document in order to comply with the required
form (Article 1357, NCC). The purpose of the