Partnership: Quiz 3

Partners can stipulate that their partnership shall begin from the moment the ash contributions of partners have actually been transmitted to the partnership.

A continuation of the business by the partners or such of them as habitually acted therein during the term, without any settlement or liquidation of the partnership affairs, is prima facie evidence of a continuation of the partnership.

A partner is also bound for warranty in case of eviction with regard to specific and determinate things which 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.

A partner shall also be liable for the fruits of the things he promised to deliver from the time they should have been delivered provided there is demand.

Answer explanation

Article 1786: A partner shall also be liable for the fruits thereof from the time they should have been delivered, without the need of any demand.

A partner who has undertaken to contribute a sum of money and fails to do so becomes a creditor for the interest and damages from the time he should have complied with his obligation.

Answer explanation

Article 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.

For any amount a partner may have taken from the partnership coffers, his liability shall begin from the time he converted the amount to his own use.

An industrial partner engages in business for himself without express permission from the partnership, the capitalist partners may exclude him from the firm with a right to damages.

An industrial partner cannot engage in business for himself, unless the partnership expressly permits him to do so.

Unless there is a stipulation to the contrary, the partners shall contribute in equal shares to the capital of the partnership.

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 capital, except an industrial partner, to save the venture, shall be obliged to sell his interest to the other partners.