Are the two contracts partnerships valid and explain

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Problem

Jomar entered into two partnerships: one with Jose and another with Jojo. In Jomar and Jose's partnership, both contributed P20,000.00 as capital to start a fried noodle business. Said partnership was verbally made by Jomar and Jose and sealed with a handshake. Meanwhile, in Jomar and Jojo's partnership, Jomar contributed a lot with stall where Jojo will operate the partnership's milk tea business. Get the instant assignment help. An inventory written in a private instrument was prepared for the contributed lot and stall and was properly kept by the parties in the milk tea shop. Are the two contracts partnerships valid? Explain.

Reference no: EM133901310

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