1. A and B are partners in a partnership known as X & Co. They agreed that they would contribute all their properties to a common fund for the purpose of dividing the same between themselves, as well...

1. A and B are partners in a partnership known as X & Co. They agreed that they would contribute all their properties to a common fund for the purpose of dividing the same between themselves, as well as the profits to be derived therefrom. A contributed all his properties consisting of two (2) big parcels of agricultural land and a tractor. B contributed also his properties consisting of P100,000 cash and farm implements. What type of partnership did A and B enter into?