II.A. Obligations of Partners to the Partnership Flashcards
What are the obligations of the partners to the partnership?
- *A. Obligations of Partners to the Partnership**
1. To contribute; Warrrant Art. 1786, 1787, 1788, 1790, 1791, 1795
2. To apply sums collected pro rata Art. 1792
3. To compensate Art. 1794
4. To be loyal; Fiduciary duty Art. 1807
Art. 1786. E P I A D O T P F W H M H P T C T.
H S A B B F W I C O E W R T S A D T W H M H C T T P, I T S C A I T S M A T V I B W R T T V. H S A B L F T F T F T T T S H B D, W T N O A D.
Art. 1786. Every partner is a debtor of the partnership for whatever he may have promised to contribute thereto.
He shall also be bound for warranty in case of eviction with regard to specific and determinate things which he may have contributed to the partnership, in the same cases and in the same manner as the vendor is bound with respect to the vendee. He shall also be liable for the fruits thereof from the time they should have been delivered, without the need of any demand.
Art. 1788. A partner who has undertaken to […] becomes a debtor for the interest and damages from the time […].
The same rule applies of any amount he may have […], and his liability shall begin from the time […].
Art. 1788. A partner who has undertaken to contribute a sum of money and fails to do so becomes a debtor for the interest and damages from the time he should have complied with his obligation.
The same rule applies of any amount he may have taken from the partnership coffers, and his liability shall begin from the time he converted the amount to his own use.
Art. 1789. An industrial partner cannot engage in business for himself, unless the […]; and if he should do so, the capitalist partners may either […] or avail themselves of the […], with a right to damages in either case.
Art. 1789. An industrial partner cannot engage in business for himself, unless the partnership expressly permits him to do so; and if he should do so, the capitalist partners may either exclude him from the firm or avail themselves of the benefits which he may have obtained in violation of this provision, with a right to damages in either case.
Art. 1790. Unless there is a stipulation to the contrary, the partners shall contribute […] to the capital of the partnership.
Art. 1790. Unless there is a stipulation to the contrary, the partners shall contribute equal shares to the capital of the partnership.
Art. 1791. If there is no agreement to the contrary, in case of an imminent loss of the business of the partnership, any partner who refuses to contribute an additional share to the capital, except an […], to save the venture, shall be […].
Art. 1791. If there is no agreement to the contrary, in case of an imminent loss of the business of the partnership, any partner who refuses to contribute an additional share to the capital, except an industrial partner, to save the venture, shall be obliged to sell his interest to the other partners.
Art. 1795. The risk of specific and determinate things, which are not fungible, contributed to the partnership so that only their use and fruits may be for the common benefit, shall be borne by the […].
If the things contributed are fungible, or cannot be kept without deteriorating, or if they were contributed to be sold, the risk shall be borne by […]. In the absence of stipulation, the risk of things […], shall also be borne by the partnership, and in such case the claim shall be limited to […].
Art. 1795. The risk of specific and determinate things, which are not fungible, contributed to the partnership so that only their use and fruits may be for the common benefit, shall be borne by the partner who owns them.
If the things contributed are fungible, or cannot be kept without deteriorating, or if they were contributed to be sold, the risk shall be borne by the partnership. In the absence of stipulation, the risk of things brought and appraised in the inventory, shall also be borne by the partnership, and in such case the claim shall be limited to the value at which they were appraised.
Art. 1786. Every partner is a debtor of the partnership for […].
He shall also be bound for warranty in case of eviction with regard to […], in the same cases and in the same manner as the vendor is bound with respect to the vendee. He shall also be liable for the fruits thereof from […].
Art. 1786. Every partner is a debtor of the partnership for whatever he may have promised to contribute thereto.
He shall also be bound for warranty in case of eviction with regard to specific and determinate things which he may have contributed to the partnership, in the same cases and in the same manner as the vendor is bound with respect to the vendee. He shall also be liable for the fruits thereof from the time they should have been delivered, without the need of any demand.
Art. 1788. A P W H U T C A S O M A F T D S B A D F T I A D F T T H S H C W H O.
T S R A O A A H M H T F T P C, A H L S B F T T H C T A T H O U.
Art. 1788. A partner who has undertaken to contribute a sum of money and fails to do so becomes a debtor for the interest and damages from the time he should have complied with his obligation.
The same rule applies of any amount he may have taken from the partnership coffers, and his liability shall begin from the time he converted the amount to his own use.
Art. 1789. A I P C E I B F H, U T P E P H T D S; A I H S D S, T C P M E E H F T F O A T O T B W H M H O I V O T P W A R T D I E C.
Art. 1789. An industrial partner cannot engage in business for himself, unless the partnership expressly permits him to do so; and if he should do so, the capitalist partners may either exclude him from the firm or avail themselves of the benefits which he may have obtained in violation of this provision, with a right to damages in either case.
Art. 1790. U T I A S T T C, T P S C E S T T C O T P.
Art. 1790. Unless there is a stipulation to the contrary, the partners shall contribute equal shares to the capital of the partnership.
Art. 1791. I T I N A T T C, I C O A I L O T B O T P, A P W R T C A A S T T C, E A I P, T S T V, S B O T S H I T T O P.
Art. 1791. If there is no agreement to the contrary, in case of an imminent loss of the business of the partnership, any partner who refuses to contribute an additional share to the capital, except an industrial partner, to save the venture, shall be obliged to sell his interest to the other partners.
Art. 1795. T R O S A D T, W A N F, C T T P S T O T U A F M B F T C B, S B B B T P W O T.
I T T C A F, O C B K W D, O I T W C T B S, T R S B B B T P. I T A O S, T R O T B A A I T I, S A B B B T P, A I S C T C S B L T T V A W T W A.
Art. 1795. The risk of specific and determinate things, which are not fungible, contributed to the partnership so that only their use and fruits may be for the common benefit, shall be borne by the partner who owns them.
If the things contributed are fungible, or cannot be kept without deteriorating, or if they were contributed to be sold, the risk shall be borne by the partnership. In the absence of stipulation, the risk of things brought and appraised in the inventory, shall also be borne by the partnership, and in such case the claim shall be limited to the value at which they were appraised.
Art. 1792. If a partner authorized to manage collects a demandable sum, which was owed to him in his own name, from a person who owed the partnership another sum also demandable, the sum thus collected shall be applied to the two credits in proportion to their amounts, even though he may have given a receipt for his own credit only; but should he have given it for the account of the partnership credit, the amount shall be fully applied to the latter.
The provisions of this article are understood to be without prejudice to the right granted to the debtor by Article 1252, but only if the personal credit of the partner should be more onerous to him.
Art. 1792. If a partner authorized to manage collects a demandable sum, which was owed to him in his own name, from a person who owed the partnership another sum also demandable, the sum thus collected shall be applied to the two credits in proportion to their amounts, even though he may have given a receipt for his own credit only; but should he have given it for the account of the partnership credit, the amount shall be fully applied to the latter.
The provisions of this article are understood to be without prejudice to the right granted to the debtor by Article 1252, but only if the personal credit of the partner should be more onerous to him.
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Art. 1794. Every partner is responsible to the partnership for damages suffered by it through his fault, and he cannot compensate them with the profits and benefits which he may have earned for the partnership by his industry. However, the courts may equitably lessen this responsibility if through the partner’s extraordinary efforts in other activities of the partnership have been realized.
