In general partnerships of all present property, what belongs to each of the partners becomes the common property of all the partners, as well as all the profits which they may acquire therewith.
An agreement for the division of any other profits may also be made, but the property which the partners acquire subsequently by inheritance, legacy, or gifts, shall not be included in the same, but the fruits of said property may be.
History —Civil Code, 1930, § 1565.