agency & partnership syllabus 26 november 2011

Updated on 26 November 2011

UNIVERSITY OF THE PHILIPPINES COLLEGE OF LAW

Prof. Rommel J. Casis Prof. Rommel J. Casis Rm. 302, Malcolm Hall Email: [email protected] Consultation hours: MTTHF 9am -12nn, 3-5pm, or by appointment

Law 173: AGENCY AND PARTNERSHIP

Course Syllabus

Course Description: The law of agency and partnership based on the Civil Code and relevant special laws. Pre-requisite: Law 101: Obligations and Contracts Course Requirements: Agency Exam 25 pts. Partnership Exam 25 pts. Recitation 50 pts.

• Attendance • MCQs

1 = 96 – 100 2.0 = 76 – 80 3 = 56 – 60 1.25 = 91– 95 2.25 = 71 – 75 4 = 51 – 55 1.5 = 86 – 90 2.5 = 66 – 70 5 = 50 & below 1.75 = 81– 85 2.75 = 61 – 65

References: 3 American Jurisprudence 2d Agency (1987) and (2011) De Leon and De Leon Jr., Comments and Cases on Partnership, Agency and Trusts (2010) Restatement (Third) of Agency (2006)


2

AGENCY OUTLINE

- Week 1 Nov 14-17 -

I. THE CONCEPT OF AGENCY A. Purpose and Definition 1. Purpose [Lecture] Eurotech v. Cuison G.R. No. 167552. April 23, 2007.1 2. Definition Article 1868 – 1869 cf. 1870, 1976 a. Legal Relationship Restatement (Third) of Agency § 1.01 (2006) 3 Am. Jur. 2d Agency § 1 (2011) Rallos v. Felix Go Chan, G.R. No. L-24332. January 31, 1978 Severino v. Severino G.R. No. 180058. January 16, 1923. b. Contract Article 1868 cf. Article 1709 old Civil Code Article 1305, 1318 B. Elements of Agency Article 1868 Rallos v. Felix Go Chan, G.R. No. L-24332. January 31, 1978

cf. Article 1868, 1881, 1869, 1870 Orient Air Service v. CA G.R. No. 76931 May 29, 1991 Bordador v. Luz G.R. No. 130148, December 15, 1997 Apex Mining Co., Inc. v. Southeast Mindanao G.R. Nos. 152613 & 152628 June 23, 2006 De La Cruz v. Northern Theatrical G.R. No. L-7089, August 31, 1954 1 The facts and issues of cases in italics will not be discussed, only the relevant principles for the part of the outline where they appear.


3 Tuazon v. Heirs of Ramos, G.R. No. 156262 , July 14, 2005 Victorias Milling v. CA G.R. No. 117356, June 19 2000 C. Effect of Agency: Integration and Extension 1. Authority to Act Eurotech v. Cuison G.R. No. 167552. April 23, 2007 Doles v. Angeles G.R. No. 149353 June 26, 2006 2. Agent Not Real Party-in-Interest Uy and Roxas v. CA, G.R. No. 120465, September 9, 1999 Angeles v. PNR, G.R. No. 150128, August 31, 2006 Ong v. CA, G.R. No. 119858, August 31, 2006. PNB v. Ritratto, G.R. No. 142616. July 31, 2001 3. Notice to Agent is Notice to Principal Francisco v. GSIS G.R. No. L-18287 Sunace International v. NLRC G.R. No. 161757 January 25, 2006 Cosmic Lumber v. CA G.R. No. 114311 November 29, 1996 New Life Enterprises v. CA G.R. No. 94081 March 31 1992 4. Bad Faith of the Agent is Bad Faith of the Principal Caram v. Laureta, G.R. No. L-28740, February 24, 1981 5. Extinguished by Death Rallos v. Felix Go Chan, G.R. No. L-24332. January 31, 1978 D. Nature of Agency: General and Special 1. Distinguishing General Agency and Agency Couched in General Terms a. As to Scope: General Agency Article 1876 Dominion Insurance v. CA G.R. No. 129919, February 6, 2002 b. As to Authority: Agency Couched in General Terms Article 1877


4 2. Distinguishing Special Agency and Agency Couched in Specific Terms

- Week 2 Nov. 21- 24 -

a. As to Scope: Special Agency Article 1876 b. As to Authority: Special Power of Attorney i. Transactions Covered Article 1878 Veloso v. CA G.R. No. 102737. August 21, 1996 Lim Pin v. Liao Tan, G.R. No. L-47740, July 20, 1982 ii. Effect of Absence of Specific Authorization Duñgo v. Lopena G.R. No. L-18377 December 29, 1962 Vicente v. Geraldez G.R. No. L-32473 July 31, 1973 Cosmic Lumber v. CA G.R. No. 114311 November 29, 1996 Mercado v. Allied Banking Corporation G.R. No. 171460. July 27, 2007 iii. Effect of Specific Authorization BPI v. De Coster G.R. No. 23181 March 16, 1925 PNB v. Sta Maria G.R. No. L-24765 August 29, 1969 Insular Drug v. PNB G.R. No. 38816 November 3, 1933 Hodges v. Salas G.R. No. L-42958 October 21 1936 Veloso v. CA G.R. No. 102737. August 21, 1996 Bravo-Guerrero v. Bravo G.R. 152658 July 29, 2005. 3. Clarifying the Terms Siasat v. IAC G.R. No. L-67889 October 10, 1985

II. ESTABLISHING AGENCY

A. Oral or Written Article 1869


5 1. Oral Air France v. CA G.R. No. L-57339 December 29, 1983. 2. Written Article 1874 a. Application Cosmic Lumber V. CA G.R. No. 114311 November 29, 1996. De Leon v. De Leon Jr, p. 389 Rodriguez v. CA G.R. No. L-29264 August 29, 1969 Oesmer v. Paraiso Development G.R. No. 157493 February 5, 2007. b. Effect AF Realty v. Dieselman G.R. No. 111448 January 16, 2002 Pahud v. CA G.R. No. 150346 August 25, 2006

- Week 3 Nov. 28 - Dec. 1-

c. Form in Case of Corporations AF Realty v. Dieselman G.R. No. 111448 January 16, 2002 Litonjua v. Eternit G.R. No. 144805 June 8 2006 C. Express/Implied Agency and Agency by Estoppel Article 1869 1. Express Agency 2. Implied Agency a. Implied from Acts of the Principal Article 1869 Uniland Resources v. DBP G.R. No. 95909 August 16, 1991 b. Implied from Acts of the Agent Article 1870 - 1872


6 3. Agency by Estoppel a. Based on statute Article 1873 b. Based on jurisprudence Pahud v. CA G.R. No. 160346 August 25, 2009 Litonjua v. Eternit G.R. No. 144805 June 8 2006 Nogales v. Capitol Medical G.R. No. 142625 December 19, 2006 4. Distinguishing Implied Agency and Agency by Estoppel Naguiat v. CA and Queaño G.R. No. 118375 October 3, 2003 Woodchild v. Roxas G.R. No. 140667 August 12, 2004 Yun Kwan Byung v. PAGCOR G.R. No. 163553 December 11, 2009 Professional Service v. Agana G.R. No. 126297. January 31, 2007,

G.R. No. 126297. February 11, 2008, and G.R. No. 126297. February 2, 2010

III. THE AGENT A. The Rights of Agents 1. Compensation Article 1875, 1909 a. Procuring Cause Danon v. Brimo & Co G.R. No. 15823 September 12, 1921 Hahn v. CA G.R. No. 113074 January 22, 1997 Tan v. Gullas G.R. No. 143978. December 3, 2002 Philippine Health-Care Providers v. Estrada G.R. No. 171052. January 28, 2008 Sanchez v. Medicard G.R. No. 141525 September 2, 2005 Infante v. Cunanan G.R. No. L-5180 August 31, 1953 Lim v. Saban G.R. No. 163720 December 15, 2004

- Week 4 Dec. 5-8 -

b. Prats Doctrine and Manotok Test


7 Prats v. CA G.R. No. L-39822 January 31, 1978 Manotok Brothers v. CA G.R. No. 94753 April 7, 1993 Uniland Resources v. DBP G.R. No. 95909 August 16, 1991 c. Forfeiture of Right Domingo v. Domingo G.R. No. L-30573 October 29, 1971 2. Lend to/Borrow Money from the Agency Article 1890 3. Appoint a Substitute Article 1892-1893 d. Substitute Agent: Alternate Not Delegate Baltazar v. Ombudsman G.R. No. 136433 December 6, 2006 3 Am. Jur. 2d Agency §7 (2011) Serona v. People, G.R. No. 130423. November 18, 2002 4. Retain in Pledge Objects of the Agency Article 1912-1914 B. The Obligations of Agents 1. Act within the scope of authority a. In general Article 1881-1882 Woodchild v. Roxas G.R. No. 140667 August 12, 2004 Guinhawa v. People, G.R. No. 162822. August 25, 2005 b. As Regards Third Persons Article 1900 c. Authority of Corporate Officers Board of Liquidators v. Heirs of Maximo Kalaw G.R. No. L-18805 August 14, 1967


8 San Juan v. Court of Appeals G.R. No. 129549 September 19, 1998 AF Realty v. Dieselman G.R. No. 111448 January 16, 2002 Francisco v. GSIS G.R. No. L-18287 March 30, 1963 2. Act in Accordance with Instructions Articles 1887, 1899 3. Carry Out the Agency Article 1884 British Airways v. Court of Appeals, G.R. No. 121824. January 29, 1998

- Week 5 Dec. 12 -15 - 4. Advance Funds Article 1886 5. Prefer Interest of the Principal Over Personal Interest a. In general Article 1889 b. Property Administered Article 1491 (2) Severino v. Severino G.R. No. 18058 January 16, 1923 Araneta, Inc. v. De Paterno G.R. No. L-2886 August 22, 1952 c. Double Sales Articles 1916-1917, 1544 6. Render Account/Deliver Article 1891 Domingo v. Domingo G.R. No. L-30673 October 29, 1971 Murao v. People, G.R. No. 141485. June 30, 2005. 7. Pay interest Article 1896


9 8. Responsibility for Fraud or Negligence Article 1909 Metrobank v. CA G.R. No. 88866, February 18, 1991. C. The Liability of Agents 1. When Solidary Articles 1894-1895 2. When Personally Liable a. Expressly Bound or In Excess of Authority Articles 1897-1898 Eurotech v. Cuison G.R. No. 167552 April 23, 2007 DBP v. CA G.R. No. 109937, March 21, 1994 b. Act in Own Name Article 1883 Beaumont v. Prieto G.R. No. 8988 March 30, 1916 c. Special Obligations of Commission Agents Articles 1903-1908

IV. THE PRINCIPAL

A. Obligations of the Principal 1. Comply with Obligations Article 1910 a. Acts Within the Scope of Authority Articles 1881-1882, 1900 b. Ratified Acts Articles 1901, 1910 Filipinas Life v. Pedroso G.R. 159489, February 4, 2008


10 Manila Memorial v. Linsangan G.R. No. 151319 November 22, 2004 Board of Liquidators v. Heirs of Maximo Kalaw G.R. No. L-18805 August 14, 1967 Francisco v. GSIS G.R. No. L-18287 March 30, 1963 Woodchild v. Roxas G.R. No. 140667 August 12, 2004 c. When estopped Article 1911 Rural Bank of Milaor v. Ocfemia, G.R. No. 137686, February 8, 2000 Cuison v. CA, G.R. No. 88539. October 26, 1993 2. Advance/Reimburse Articles 1912, 1918 3. Indemnify Article 1913 4. Compensate Article 1975 B. Liability of Principals 1. Be Solidarily Liable Articles 1911, 1915 De Castro v. CA G.R. No. 115838 July 18, 2002 2. Contract Involves Things Belonging to Principal Article 1883 Syjuco v. Syjuco G.R. No. 13471 January 12, 1920 PNB v. Agudelo G.R. No. 39037 October 30, 1933

V. THE THIRD PARTY DEALING WITH THE AGENT

A. Rights of Third Parties

Article 1902


11 B. Obligation of Third Parties 1. The Keeler Rules Keeler Electric v. Rodriguez G.R. No. 19001 November 11, 1922 b. Later Jurisprudence BA Finance v. CA G.R. No. 94566, July 3, 1992 NPC v. National Merchandising G.R. Nos. L-33819 & L- 33897 October 23, 1982 Apex Mining v. Southeast Mindanao G.R. Nos. 152613 & 152628, June 23, 2006 Bacaltos Coal Mines v. CA G.R. No. 114091 June 29, 1995

VI. EXTINGUISHING THE AGENCY

Article 1919 A. Revocation 1. In General Articles 1920, 1925 Barreto v. Santa Marina G.R. 8169 December 29, 1913 2. When Not Binding on Third Persons a. When Notice is Required Articles 1921, 1873 Lustan v. CA, G.R. No. 111924. January 27, 1997 b. Third Person in Good Faith Without Knowledge of Revocation Article 1922 3. Appointment of a New Agent Article 1923 4. Direct Management by the Principal Article 1924 CMS Logging v. CA G.R. No. 41420 July 10, 1992


12 Sanchez v. Medicard G.R. No. 141525 September 2, 2005 5. Special Revokes General in Part Article 1926 6. When Agency Cannot be Revoked Article 1927 Del Rosario v. Abad G.R. No. L-10881 September 30, 1958 Coleongco v. Claparols G.R. No. L-18616 March 31, 1964 Lim v. Saban G.R. No. 163720 December 16, 2004 Valenzuela v. CA, G.R. No. 83122. October 19, 1990 B. Withdrawal Article 1928 Valera v. Velasco G.R. No. 28050 March 13, 1928 C. Death/Civil Interdiction/Insanity/Insolvency of the Principal Article 1919 Rallos v. Felix Go Chan G.R. No. L-24332 January 31, 1978 1. Agency Coupled with an Interest 2. Contract between Agent without Knowledge and Third Person in Good Faith Article 1931 Rallos v. Felix Go Chan G.R. No. L-24332 January 31, 1978

VII. DISTINGUISHING AGENCY FROM OTHER CONTRACTS

A. In General 1. Determined by Acts Doles v. Angeles G.R. No. 149353 G.R. No. 149353 June 26, 2006 2. The Element of Control


13 Victorias Milling v. CA G.R. No. 117356 June 19, 2000 Sevilla v. CA G.R. Nos. L-41182-3 April 15, 1988 B. Distinguished from Partnership Article 1767 Sevilla v. CA G.R. Nos. L-41182-3 April 15, 1988 Litonjua v. Litonjua G.R. Nos. 166299-300 December 13, 2005 C. Distinguished from Service Providers 1. Lessor of Services Article 1644 Nielson v. Lepanto G.R. No. L-21601 December 28, 1968 2. Independent Contractor Article 1713 Fressel v. Mariano Uy Chaco G.R. No. 10918 March 4, 1916 Shell v. Firemen’s Insurance G.R. No. L-8169 January 29, 1957 D. Distinguished from Sale Article 1458 Quiroga v. Parsons Hardware G.R. No. 11491 August 23, 1918 American Rubber v. CIR G.R. No. L-25965 June 30, 1975 Ker v. Lingad G.R. No. L-20871 April 30, 1971 Gonzalo Puyat v. Arco Amusement G.R. No. 47538 June 20, 1941 Chua Ngo v. Universal Trading G.R. No. L-2870 September 19, 1950 E. Distinguished from Brokerage Hahn v. CA G.R. No. 114074 January 22, 1997.

PARTNERSHIP OUTLINE

References: Esteban B. Bautista, Treatise on Philippine Partnership Law 1 (1995) De Leon & De Leon, Jr. Comments and Cases on Partnership, Agency and Trusts (2010)


14

I. THE CONCEPT OF PARTNERSHIP

A. Historical Background [Lecture] B. The Nature of Partnerships 1. Definition Article 1767 Bautista p. 3 Litonjua v. Litonjua G.R. Nos. 166299-300 December 13, 2005 2. Elements Article 1767 Evangelista v. CIR; AFISCO v. CA G.R. No. 112675, January 25, 1999 a. Common fund Lim Tong Lim v. Philippine Fishing Gear, G.R. No. 136448 November 3, 1999 AFISCO v. CA G.R. No. 112675, January 25, 1999 b. Profits AFISCO v. CA G.R. No. 112675, January 25, 1999 Gatchalian v. CIR G.R. No. 45425 April 29, 1939 c. Characteristics i. Lawful Purpose and Common Benefit Articles 1770, 1409 (1) October 17, 1989 SEC Opinion to Ms. C.A. Reyes Santos Arbes v. Polistico G.R. No. 31057 September 7, 1929 Bautista p. 19 ii. Separate juridical personality • When it exists


15 Article 1768 Evangelista v. CIR G.R. No. L-9996, October 15, 1957 Article 1775 Bautista p. 58 • Effects Aguila v. CA, G.R. No. 127347, November 25, 1999 Bautista p. 56 C. Rules to Determine Existence Article 1769 1. In General a. No One Factor [Lecture] b. Intent of the Parties Evangelista v. CIR G.R. No. L-9996, October 15, 1957 P & M Cattle v. Holler 559 P2d 1019 Murphy v. Stevens 645 P2d 82, 85 2. Specific Rules a. Person not partners to each other not partners to third persons Article 1769 (1) b. Co-ownership does not of itself establish a partnership Article 1769 (2) Oña v. CIR, G.R. No. L-19342, May 25, 1972 Obillos v. CIR G.R. No. L-68118, October 29, 1985 Pascual v. CIR, G.R. No. 78133, October 18, 1988 Stern v. Dept. of Revenue 217 NW 2d 326 (1974) Bautista 29-30 c. Sharing of gross return does not establish a partnership Article 1769 (3)


16 Oña v. CIR, G.R. No. L-19342, May 25, 1972 d. Receipt of profits prima facie evidence of being a partner Article 1769 (4) Bautista 39-40 Heirs of Jose Lim and Juliet Lim, G.R. No. 172690, March 3, 2010

II. FORMING THE PARTNERSHIP

A. Formal Requirements 1. In General Article 1771 Lilibeth Sunga-Chan G.R. No. 143 340, August 15, 2001 2. When Notarized Agreement and Inventory Required Articles 1771, 1773 Litonjua v. Litonjua G.R. Nos. 166299-300 December 13, 2005 3. Notarized and Recorded Articles 1772, 1768 B. Corporations as Partners February 29, 1980 SEC Opinion to Antonio Librea September 3, 1984 SEC Opinion to Romeo Orsolino December 1, 1993 SEC Opinion to Val Antonio Suarez C. Partnership Term Article 1784 D. Partnership Purpose December 8, 2003 SEC Opinion to Ms. Arlyn Solitario E. Firm Name Article 1815


17 SEC Memorandum Circular No. 5 Series of 2008, as amended 19 October 1984 SEC Opinion to Renato Santiago 8 July 1987 SEC Opinion to Ministry of Trade and Industry Article 1846 25 April 1984 SEC Opinion to Milton Christopher ___________ SEC Opinion to Demosthenes Gadioma

III. KINDS OF PARTNERSHIPS

A. Universal and Particular Partnerships Article 1776 1. Universal Partnership Article 1777 a. Universal Partnership of Present Property Article 1778- 1779 b. Universal Partnership of Profits Article 1780-1781 2. Particular Partnership Article 1783 CIR v. Suter G.R. No. L-25532, February 28, 1969 B. General and Limited Partnerships Article 1776 C. Professional Partnership Article 1767 D. Partnership by Estoppel Article 1825 Anfenson v. Banks L.R.A 1918D, 482, 163 NW 608 Brown v. Gernstein 460 NE 2d 1043 Hunter v. Croysdil 337 P2d 174


18 Wisonsin Telephone v. Lehman 80 NW 2d 267 E. Joint venture 29 February 1980 SEC Opinion issued to Antonio Librea Litonjua v. Litonjua, G.R. Nos. 166299-300, December 13, 2005 Primelink v. Lazatin-Magat, G.R. No. 167379, June 27, 2006 Aurbach v. Sanitary Wares G.R. No. 75875, December 15, 1989 Mendiola v. CA, G.R. No. 159333, July 31, 2006 J. Tiosejo Investment v. Spouses Ang, G.R. No. 174149, September 8, 2010

IV. RIGHTS AND OBLIGATIONS OF THE PARTNER

A. Rights of Partners 1. Partners in General a. Mutual Agency i. General Rule Article 1803, 1818 Stratemeyer v. West 466 NE 2d 306 Cook v. Brundidge 533 SW2d 751 ii. Exceptions Article 1818 b. Share in Profits Articles 1797, 1799 b. Right to Associate Another/Authorize Admission Article 1804 c. Access to Books and Information Article 1805 Bautista p. 199 d. Formal Account


19 Article 1809 Bautista p. 201 e. Property Rights Article 1810 i. Rights to Specific Partnership Property Article 1811 Bautista pp. 147-148, 155-156, 164 ii. Interest in the Partnership Article 1812 -1814 Bautista 175-177 Bohonus v. Amerco 602 P2d 469 First National Bank v. District Court 652 P2d 613 iii. Right to Participate in the Management See IV (A)( 1) (a) f. Conveyance of Property in Partnership Name Articles 1774, 1819 Hodge v. Garett 614 P2d 420 Backowski v. Solecki 316 NW 2d 434 2. Right of Managing Partners Article 1800-1801 B. Obligations of Partners 1. Partners in General a. Contribution Articles 1786 par. 1, 1790 i. Sum of Money


20 Article 1788 ii. Specific and Determinate Things Article 1786 par. 2 iii. Goods Article 1787 b. Additional Capital Article 1791 c. Alteration in Immovable Property Article 1803 (2) d. Bring to Partnership Capital Credit Received Article 1793 e. Responsible for Damage Suffered by the Partnership Article 1794 f. Bear Risk of Loss of Specific and Determinate Things Article 1795 g. Share in Losses Articles 1797- 1799 h. Account for Benefits Article 1807 i. Liable for Partnership Contracts Article 1816- 1817 De Leon & De Leon Jr. p. 170 Muñasque v. CA, G.R. No. L-39780, November 11, 1985


21 j. Solidarily Liable with the Partnership for Wrongful Acts or Omissions Articles 1822- 1824 2. New Partners Article 1826 3. Industrial Partners Article 1789 4. Managing Partners a. Application of Sums Received Articles 1792, 1252, 1292 b. Concurrence of Other Managing Partners Article 1802 5. Capitalist Partner Article 1808

V. OBLIGATIONS OF THE PARTNERSHIP

A. Bound by Authorized Acts of Partners Article 1803, 1818 B. Bear Risk of Certain Types of Contribution Article 1795 C. Repay Disbursement of Partners Article 1796 D. Bound by Admission or Representation Article 1820 E. Bound by Notice to Partner


22 Article 1821 F. Liability for Loss or Injury Article 1822 G. Misapplication of funds Article 1823

VI. ENDING THE PARTNERSHIP

A. Dissolution 1. Meaning and Effect Article 1828 - 1829 Rojas v. Maglana G.R. No. 30616, December 10, 1990. 2. Causes a. Without Violating the Partnership Agreement Articles 1830 (1), 1813 b. In Contravention of the Partnership Agreement Article 1830 (2) c. By Operation of Law Article 1830 (3)-(7) d. By Decree of Court Articles 1830 (8), 1831, 1813-1814 3. Consequences of Dissolution a. Continuation Until Winding Up Article 1829


23 b. Termination of Authority to Act for Partnership Articles 1832-1834 LeMay Bank v. Lawrence, 710 SW2d 318 c. Discharge of Liabilities Article 1835 d. Election to Continue the Business i. Dissolution Not Due to Wrongful Causes Lange v. Bartlett 360 NW2d 702 ii. Dissolution Due to Wrongful Causes Article 1837 e. Liability of Person/Partnership Continuing the Business Article 1840 Yu v. NLRC, G.R. No. 97212, June 30, 1993 4. Rights of Partners Upon Dissolution a. Right to Wind Up Article 1836 b. Right to Damages for/Continue Business on Wrongful Dissolution Article 1837 c. Right to Lien or Retention, Stand in Place of Creditor, to be Indemnified Article 1838 d. Right of Retiring/Deceased Partner Article 1841 e. Right to Account


24 Article 1842 B. Winding-Up and Liquidation 1. Meaning of Winding-up 2. The Right to Wind-up Article 1836 3. The Liquidating Partner 4. Period for Winding–Up 5. Rules on Settling Accounts Article 1839 Mahan v. Mahan 489 P2d 1197 6. Right of Creditors Articles 1827, 1839 7. Right of Expelled Partner Article 1837

VII. LIMITED PARTNERSHIP

A. Source of Limited Partnership Law B. Purpose of Limited Partnerships C. Definition and Formation Articles 1843 - 1844 D. Corporation as Partner 23 February 1994 SEC Opinion to Messrs. Tale and De Dios 17 August 1995 SEC Opinion to Attys. Espinosa and Hofileña 7 September 1998 SEC Opinion to Romulo, Mabanta


25 E. The Certificate 1. Liability for False Statements Article 1847 2. Cancellation and Amendment Articles 1864 - 1865 F. The Partnership Name Article 1846 G. The Limited Partner 1. Contribution Article 1845 2. Liability a. In General Article 1848 b. To the Partnership Article 1858 c. Additional Limited Partners Article 1849 3. Rights of a Limited Partner a. In Common with a General Partner Article 1851 b. Loan Money from/Transact Business with Partnership Article 1854


26 c. Return of Contribution Articles 1857, 1855 d. To Dissolve Article 1857 e. Share of Profits Article 1856 f. Assignment of Interest Article 1859 g. Immunity from Suit Against the Partnership Article 1866 4. Effect of Death Article 1861 5. Charging Interest Article 1862 H. Person Erroneously Believing He is a Partner Article 1852 I. General Partner Articles 1850, 1853 J. Limited and General Partner Article 1853 K. Dissolution Article 1860 Najim v. De Mesa SEC Case No. 2526, September 21, 1987


27 L. Preference of Credits Article 1863

agency & partnership syllabus 26 november 2011

Documents