Legal Question in Business Law in Philippines

in answer to your legal query, first a contract may be entered orally or in writing. In your case, even if no contract in writing was made, the fact that you agreed to enter into a business venture, the partnership existed from the start and as evidenced according to you by a money transfer, all the more that you cannot deny such contractual relation. However, you can proceed against your partner should you find out later the real reason why the business went ugly, it could perhaps be that your partner is squandering actually your money instead of spending it to improve further the business. This is something that you need to investigate first get to the bottom of what really had cause why the business went bad.