CHAPTER 2 AS TO MEMBERSHIP

KINDS OF PARTNERS REAL PARTNERS

AS CONTRIBUTION - partners in an existing legal partnership.

CAPITALIST PARTNERS PARTNERS BY ESTOPPEL

-money, property, both - who are not really partners but represent themselves,
or consent to another or others representing then to
INDUSTRIAL PARTNERS
anyone as partners in an existing partnership o
-industry or labor
AS TO CONTINUATION OF THE BUSINESS AFFAIRS
CAPITALIST-INDUSTRIAL PARTNERS AFTER DISSOLUTION

- contribute money or property and industry or both CONTINUATING

money, property and industry to the common fund.
- continue the partnership business after the
AS TO LIABILITY
dissolution of the partnership.
GENERAL PARTNERS
DISCONTINUING PARTNERS
- liable to third persons for partnership obligations even
- who do not continue the partnership business after
to the extent of their separate property.
the dissolution of the partnership.
LIMITED PARTNERS
AS TO THE NATURE OF MEMBERSHIP
- cannot be held liable to third persons for partnership
ORIGINAL PARTNERS
obligations.
- members of the partnership from the time of its
AS TO MANAGEMENT
constitution.
MANAGING PARTNERS
INCOMING PARTNERS
- manage actively the business or affairs
- became members of the partnership after its
SILENT PARTNERS establishment

- do not take active part in the business or affairs of the RETIRING PARTNERS
partnership though they share in the profits or losses.
- Those who withdraw from the partnership.
LIQUIDATING PARTNERS
AS TO STATE OF SURVIVORSHIP
- take charge of the winding up or liquidation of the
SURVIVING PARTNERS
partnership affairs after dissolution.
- continue the partnership after dissolution by reason of
AS TO THIRD PERSONS
death of a partner.
OSTENSIBLE PARTNERS
DECEASED PARTNERS
- take active part and known to the public as a partner
- who died while being a member of the partnership.
SECRET PARTNERS
AS TO EFFECT OF EXPULSION
-not known to public
EXPELLED PARTNERS
DORMANT PARTNERS
- who are expelled from the partnership by the other
-who do not take active part in the business and are not partners for a valid cause.
known to the public as partners
EXPELLED PARTNERS
- who caused the expulsion of a partner for a valid - partnership begins from the moment of the execution
cause. of the contract, unless it is otherwise stipulated

AS TO VALUE OF THE CONTRIBUTION GENERAL RULE

MAJORITY PARTNERS - partnership begins from the moment of the execution

of the contract
- contribution to the partnership represents the majority
or controlling interest. EXCEPTION

NOMINAL PARTNERS - partners can agree on some other date

- whose contribution to the partnership represents the ARTICLE 1785

minority interest.
- a partnership for a fixed term or particular undertaking
OBLIGATIONS OF THE PARTNERS AMONG THEMSELVES is continued after the termination of such term Or
particular undertaking without any express agreement,
LEGAL RELATIONS CREATED BY A CONTRACT OF
the rights and duties of the partners remain the same
PARTNERSHIP
- without any settlement or liquidation of the
- Relations between partners, Relations between the
partnership affairs, is prima facie evidence of a
partners on one hand and the partnership on the other
continuation of the partnership
hand, Relations between the partners on one hand and
third persons on the other hand, Relations between the PARTNERSHIP WITH A FIXED TERM
partnership and the third persons
- existence of the partnership has been agreed upon
EXAMPLES OF OBLIGATIONS AND RIGHTS OF
PARTNERSHIP FOR A PARTICULAR UNDERTAKING
PARTNERS
- exist until the purpose is accomplished.
OBLIGATIONS OF PARTNERS
PARTNERSHIP AT WILL
- give their promised contribution, Not to convert
partnership money to their own use, account and hold - does not fix its term, birth and life of a partnership at
as trustee for any profits derived without the consent of will is predicated on the mutual desire and consent
the other partners, Not to engage in any business which
is of the kind in which the partnership is engaged, ARTICLE 1786
Obligation of managing partners to credit to the - Every partner is a debtor of the partnership for
partnership the payment made by a debtor who owes whatever he may have promised to contribute thereto.
them and the partnership, Obligation to share with the
other partners the share of the partnership credit which - He shall also be bound for warranty in case of eviction
they have received from an insolvent partnership with regard to specific and determinate things which he
debtor, Pay for damages suffered by the partnership may have contributed to the partnership, in the same
through their fault. cases and in the same manner as the vendor is bound
with respect to the vendee. He shall also be liable for
RIGHTS OF PARTNERS the fruits thereof from the time they should haw been
- Right to associate with another person in their share, delivered, without the need of any demand.
Right to have access to and inspect and copy OBLIGATION OF EVERY PARTNER
partnership books, Right to demand a formal account,
Right to ask for the dissolution of the partnership at the THE OBLIGATION TO CONTRIBUTE WHAT HAD BEEN
proper time, Property rights of partners (rights in PROMISED
specific partnership property, interest in partnership, - mutual contribution to a common fund is the first test
right to participate in management)
- failure to contribute is to make the partner a debtor of
ARTICLE 1784 the partnership even if there is no demand.
- the remedy is specific performance with interest and promised to contribute and interest and damages from
damages occasioned thereby and not rescission. the time he should have complied with his obligation

THE OBLIGATION TO DELIVER THE FRUITS THEREOF -partner must share in profits and losses

- If property has been promised, the fruits thereof CASES COVERED OF THE LIABILITY FOR DAMAGES AND
should also be given. The fruits referred to are those INTEREST
arising from the time they should have been delivered,
- Money promised by a partner is not given on time
without the need of any demand. If the partner is in bad
faith, he is liable not only for the fruits actually - Money of the partnership is converted to partners'
produced, but also for those that could have been own use.
produced.
DEMAND IS NOT NECESSARY
-money has been promised and that partner failed to do
so, he becomes a debtor for the interest and damages -exception to the general principle "there is no default,
from the time he should have complied with his if there is no demand."
obligation. - contribution, because time is of the essence,
THE OBLIGATION TO WARRANT partnership is formed precisely to make use of the
contributions, an this use should start from its
-Warranty in case of eviction refers only to specific or formation, unless a different period ha been set;
determinate things which a partner contributed to the otherwise the firm is necessarily deprived of the
partnership benefits thereof. Thus, injury is constant
ARTICLE 1787 - conversion, demand is also not necessary, even if
actual injury results, the liability exists, because the
- When the capital or apart thereof which a partner is
Article absolute,
bound to contribute consists of goods, their appraisal
must be made in the manner prescribed in the contract ARTICLE 1789
of partnership, and in the absence of stipulation, it shall
be made by experts chosen by the partners, and - industrial partner cannot engage in business for
according to current prices, the subsequent changes himself unless the partnership expressly permits him to
thereof being for account of the partnership. do so; and if he should do so, the capitalist partners may
either exclude him from the firm of avail themselves of
MEANING OF APPRAISAL the benefits which he may have obtained violation of
this provision, with a right to damages in either case.
-stipulation
CAPITALIST VS INDUSTRIAL PARTNER
-absence of stipulation, by experts by the partners
according to current prices CONTRIBUTION
ARTICLE 1788 -money/property, industry
- partner who has undertaken to contribute a sum of PROHIBITION TO ENGAGE IN OTHER BUSINESS
money and fails to do so becomes a debtor for the
interest and damages from the time he should have - General rule: cannot engage in the same kind of
complied with his obligation. business in which the partnership is engaged Exception:
stipulation authorizing him, General rule: cannot engage
- same rule applies to any amount he may have taken in business for himself Exception: If the partnership
from the partnership coffers, and his liability shall begin expressly permits him to do so
from the time h converted the amount to his own use.
PROFITS
ESSENCE OF PARTNERSHIP
- Shares in the profits according to agreement; if there is
-partner to contribute sum of money fails, become a no agreement, in proportion to his contribution, shares
debtor to the partnership for whatever he may have in the profits according to agreement; if there is no
agreement, he shall receive such share as may be just - If a partner authorized to manage collects a
and equitable under the circumstances. demandable sum which was owed to him in his own
name, from a person who owed the partnership another
LOSSES
sum also demandable, the sum thus collected shall be
- General rule: the agreement as to losses; if any. applied to the two credits in proportion to their
However, if there is no agreement, then the agreement amounts, even though he may have given a receipt for
as to profits Exception: in the absence of agreement as his own credit only; but should he have given it for the
to profits and losses, in proportion to his contribution, account of the partnership credit, the amount shall be
General rule: the agreement as to losses; if any. fully applied to the latter.
Exception: in the absence of agreement, the industrial
- understood to be without prejudice to the right
partner shall not be liable for losses.
granted to the debtor by Article 1252, but only if the
REMEDIES OF CAPITALST PARTNERS AGAINST AN personal credit of the partner should be more onerous
INDUSTRIAL PARTNER ENGAGED IN BUSINESS FOR to him.
HIMSELF
OBLIGATION OF A MANAGING PARTNER WHO
- may exclude the industrial partner from the COLLECTS DEBT REQUISITES:
partnership plus damages;
- existence of at least 2 debts (one where the managing
- avail themselves of the benefits which the industrial partner is the creditor and the other where the
partner may have obtained plus damages. partnership is the creditor)

ARTICLE 1790 -both sums are demandable

- Unless there is a stipulation to the contrary, the ARTICLE 1793

partner shall contribute equal shares to the capital of
-partner who has received, in whole or in part, his
the partnership.
shared partnership credit, when the other partners have
ARTICLE 1791 not collected theirs, shall be obliged, if the debtor
should thereafter become insolvent, to bring to the
- If there is no agreement to the contrary, in case of a partnership capital what he received evet though he
imminent loss of the business of the partnership, any may have given receipt for his share only.
partner who refuses to contribute an additional share to
the capital, except industrial partner, to save the ARTICLE 1792 VS ARTICLE 1793
venture, shall be obliged to sell interest to the other
AS TO NUMBER OF CREDITS
partners.
-two distinct credits partnership and managing partner,
OBLIGATION OF CAPITALIST PARTNERS TO CONTRIBUTE
only one credit in favor of the partnership
ADDITIONAL CAPITAL
AS TO APPLICABILITY
GENERAL RULE
-apply to managing partner, any partner
- Capitalist partners are not bound to contribute
additional capital. AS TO DEBTOR’S INSOLVENCY

EXCEPTIONS -debtor is not insolvent, debtor has become insolvent

-stipulation, In case of imminent loss of the business of ARTICLE 1794

the partnership to save the venture. If the capitalist
- Every partner is responsible to the partnership for
partners refuse to contribute additional capital they
damages suffered by it through his fault, and he cannot
shall be obliged to sell their interest to the other
compensate them with the profits and benefits which
capitalist partners who are willing to contribute
he may have earned for the partnership by his industry.
additional capital.
However, the courts may equitably lessen this
ARTICLE 1792 responsibility if through the partner's extraordinary
efforts in other activities of the partnership, unusual - refund the amounts a partner may have disbursed on
profits have been realized. behalf of the partnership plus the interest from the time
the expenses were made.
MITIGATION OF LIABILITY BY THE COURTS
- answer to each partner for obligations, he may have
- partner's extraordinary efforts in other activities of the
contracted into in good faith in the interest of the
partnership, unusual profits have been realized.
partnership, and for the risks in consequence of its
ARTICLE 1795 management.

- risk of specific and determinate things, which are n ARTICLE 1797

fungible, contributed to the partnership so that only
-losses and profits shall be distributed in conformity
their use ant fruits may be for the common benefit, shall
with the agreement. If only the share of each partner in
be borne by the partner who owns them.
the profits has been agreed upon, the share of each in
- things contributed are fungible, or cannot be kept the losses shall be in the same proportion.
without deteriorating, or if they were contributed to be
- In the absence of stipulation, the share of each partner
sold, the rid shall be borne by the partnership. In the
in the profits and losses shall be in proportion to what
absence of stipulation, the risk of the things brought
he may have contributed, but the industrial partner
and appraised in the inventory, shall also b borne by the
shall not be liable for the losses. As for the profits, the
partnership, and in such case the claim shall be limited
industrial partner shall receive such share as may be just
to the value at which they were appraised.
and equitable under the circumstances. If besides his
RISK OF LOSS services he has contributed capital, he shall also receive
a share in the profits in proportion to his capital.
SPECIFIC AND DETERMINATE THINGS WHICH ARE NOT
FUNGIBLE RULES OF DISTRIBUTION OF PROFITS AND LOSSES OF A
PARTNERSHIP
-only the use of the object
DISTRIBUTION OF PROFITS
FUNGIBLE THINGS
ACCORDING TO AGREEMENT
- partnership who bears the risk of loss as there was
transfer of ownership - profits shall be distributed in conformity with the
agreement.
THINGS CONTRIBUTED TO BE SOLD
IF THERE IS NO AGREEMENT
- partnership who bears the risk of loss as there was
transfer of ownership after delivery of the things -capitalist partners what he may have contributed,
industrial partnership which is just and equitable
THINGS BROUGHT AND APPRAISED IN THE INVENTORY
DISTRIBUTION OF LOSSES
- partnership who bears the risk of loss as there was
transfer of ownership after delivery of the things ACCORDING TO AGREEMENT
brought and appraise
-distributed in conformity with the agreement If the
ARTICLE 1796 only agreement pertains to the share of each partner in
the profits, the share of each in the losses shall be in the
- partnership shall be responsible to every partner for same proportion. However, the industrial partner shall
the amounts he may have disbursed on behalf of the not be liable for the losses.
partnership an for the corresponding interest, from the
time the expenses are made; shall also answer to each IF THERE IS NO AGREEMENT
partner for the obligations he may have contracted in
-capitalist partners in proportion to what they may have
good faith in the interest of the partnership business
contributed to the common fund, industrial partners not
and for risks in consequence of its management.
liable for losses
OBLIGATION OF THE PARTNERSHIP TO EVERY PARTNER
ARTICLE 1798 administration despite the opposition of his partners,
unless he should act in bad faith; and his power is
- partners have agreed to intrust to a third person the
irrevocable without just or lawful cause. The vote of the
designation of the share of each one in the profits and
partners representing the controlling interest shall be
losses, such designation may be impugned only when it
necessary for such revocation of power.
is manifestly inequitable. In no case may a partner who
has begun to execute the decision of the third person, - power granted after the partnership has been
or who has not impugned the same within a period of constituted may be revoked at any time.
three months from the time he had knowledge thereof,
WHO SHALL MANAGE THE PARTNERSHIP
complain of such decision.
-either one, some or all, either in the articles or after the
- designation of losses and profits cannot be intrusted to
contract had already been constituted, if there is no
one of the partners.
agreement, management is vested in all
THIRD PERSON DESIGNATING THE SHARE OF PARTNERS
TWO MODES OF APPOINTMENT
IN THE PROFITS AND LOSSES
-articles of partnership, instrument other than articles
GENERAL RULE
APPOINTMENT AS MANAGER IN THE ARTICLES OF
-valid
PARTNERSHIP
EXCEPTION
GENERAL RULE
- not valid and it may be questioned if it is manifestly
- Power is irrevocable without just or lawful cause.
inequitable: unless:
EXCEPTION
- partner began to execute the decision of the third
person -remove him for just cause, vote of partners having
controlling interest is necessary,
- partner has not questioned the said decision of the
third person within a period of 3 months from the time - remove him without just cause, there must be
he had knowledge thereof. unanimity including his own vote
ARTICLE 1799 EXTENT OF POWER
- stipulation which excludes one or more partners from - If he acts in good faith, he may do all acts of
any share in the profits or losses is void. administration despite the opposition of his partners.
GENERAL RULE - If he acts in bad faith, he cannot do any act of
administration. It must be noted that the presumption
-stipulation excluding one or more partners from any
in law is in favor of good faith.
share in the profits and losses is void. Takenote that
what is void is the stipulation on and not the contract APPOINTMENT AS MANAGER MADE IN AN
INSTRUMENT OTHER THAN THE ARTICLES
tipulation excluding one or more partners from any
share in th profits and losses is void. Takenote that what EXTENT OF POWER
is void is the stipulation on and not the contract
-manager can do all acts of administration
EXCEPTION
ARTICLE 1801
- An industrial partner is not liable for losses unless he
waived this right - If two or more partners have been intrusted with the
management of the partnership without specification of
ARTICLE 1800 their respective duties, or without a stipulation that one
of them shall not act without the consent of all the
- partner who has been appointed manager in the
others, each one may separately execute all acts of
articles of partnership may execute all acts of
administration, but if any of them should oppose th acts
of the others, the decision of the majority shall prevail. he contracts has previously obtained the consent of the
In case of a tie, the matter shall be decided by the other
partners owning the controlling interest.
-third person may and has a right to presume that the
WHEN TWO OR MORE MANAGING PARTNERS HAVE partner with whom he contracts has the consent of his
BEEN ENTRUSTED WITH MANAGEMENT copartner otherwise he would not enter into the
contract
REQUISTES:
-third person would naturally presume that the partner
-two or more partners are managers, there is no
with whom he enters is violating the articles of
specification of respective duties, no stipulation
partnership but on the contrary is acting in accordance
requiring unamity, one of them shall not act without the
consent of all the others ARTICLE 1303

GENERAL RULE -when manner of management has not been agreed

upon
- Each one may separately execute all acts of
administration. - All the partners shall be considered agents and
whatever any one of them may do alone shall bind the
EXCEPTIONS: IF ANY OF THE MANAGERS SHOULD
partnership
OPPOSE
- None of the partners may, without the consent of the
- decision of the majority (per head) of the managing
others, make any important alteration in the immovable
partners shall prevail
property of the partnership, even if it may be useful to
- case of a tie, the decision of the managing partners the partnership. But if the refusal of consent by the
owning the controlling interest (more than 50%) shall other partners is manifestly prejudicial to the interest of
prevail. the partnership, the court's intervention may be sought.

ARTICLE 1802 RULES WHEN MANNER OF MANAGEMENT HAS NOT

BEEN AGREED UPON
- In case it should have been stipulated that none of the
managing partners shall act without the consent of the -All the partners shall be considered as managers.
others, the concurrence of all shall be necessary for the Consequently, all partners can do all acts of
validity of the acts, ant the absence or disability of any administration. If the acts of a partner are opposed by
one of them cannot be alleged, unless there is imminent the other partners, the majority (per head) shall prevail.
danger of grave or irreparable injury In case of tie (per head), then the vote of the partners
representing the controlling interest shall prevail.
STIPULATION REQUIRING UNAMITY OF ACTION
-For important alterations in immovable property,
GENERAL RULE unanimity is required.
- Unanimous consent of all the managing partners (even ARTICLE 1804
if one of the managers is absent or incapacitated) shall
be necessary for the validity d the acts and absence or - Every partner may associate another person with him
disability of any managing partner cannot be alleged. in his share, but the associate shall not be admitted into
the partnership without the consent of all the other
EXCEPTION partners, even if the parther having an associate should
- there is an imminent danger of grave or irreparable be a manager.
injury to the partnership. CONTRACT OF SUB-PARTNERSHIP
ARTICLE 1802 NOT APPLICABLE TO THIRD PERSON - consent of the other partners is no required. Hence, all
-not imposed upon a third person who contracts with partners can have an associate in his share or sub
the partnership neither it is necessary for the third partner
person to ascertain if the managing partner with whom
SUB-PARTNER NOT ADMITTED WITHOUT CONSENT -bring to the common fund any profits accruing to him,
BASED ON FOLLOWING REASONS: shall personally bear all the losses

-mutual trust basis of partnership, change of ARTICLE 1809

membership is a modification or novation
-right to a formal account as to partnership affairs:
ARTICLE 1805
-wrongfully excluded from the partnership business or
- partnership books shall be kept, subject to any possession of its property by his co-partners
agreement between the partners, at the principal place
- right exists under the terms
of business od the partnership, and every partner shall
at any reasonable hour have access to and may inspect -provided by article 1807
and copy any of them.
-other circumstances render it just and reasonable.
REAOSNABLE HOUR
GENERAL RULE
- business days throughout the year, and not merely
during some arbitrary period of a few days chosen by - No formal accounting is demandable until after the
the directors dissolution

ARTICLE 1806 EXCEPTIONS

- Partners shall render on demand true and full -wrongfully excluded from the partnership or possession
information of all things affecting the partnership to any of its property, exists under the terms of an agreement,
partner or the legal representative of any deceased provided article 1807, other circumstances render it just
partner or of any partner under legal disability. INDUSTRIAL VS CAPITALIST PARTNER
WHO CAN DEMAND TRUE AND FULL INFORMATION PROHIBITION
-any partner, legal representative of any deceased -absolute prohibition, cannot engage in business for
partner, legal representative of any partner under legal himself unless partnership expressly permits him
disability
-relative prohibition, cannot engage in the same kind of
ARTICLE 1807 business for his own account unless there is stipulation
- Every partner must account to the partnership for any to the contrary
benefit, and hold as trustee for it any profits derived by REMEDY
him without the consent of the other partners from any
transaction connected with the formation, conduct, or -capitalist partners may exclude him from the firm plus
liquidation of the partnership or from any use by him of damages, avail themselves of the benefits
its property. -capitalist partner who violated shall bring to the
ARTICLE 1808 common fund any profits and personally bear all losses

- capitalist partners cannot engage for their own SECTION 2 PROPRETY RIGHTS OF A PARTNER
account in any operation which is of the kind of business ARTICLE 1810
in which the partnership is engaged, unless there is a
stipulation to the contrary. -property rights of partner are rights in specific
partnership property, interest in the partnership, right
- capitalist partner violating this prohibition shall bring to participate in the management
to the common funds any profits accruing to him from
his transactions, and shall personally bear all the losses. ARTICLE 1811

EFFECTS OF VIOLATION - partner is co-owner with his partners of specific

partnership property.

-incidents of this co-ownership are such that:

- A partner, subject to the provisions of this Title and to - In case of a dissolution of the partnership, the assignee
any agreement between the partners, has an equal right is from entitled the to date receive his assignor's
with his partners to possess specific partnership interest and may require an account only of the last
property for partnership purposes; but he has no right account agreed to by all the partners.
to possess such property for any other purpose without
CONVEYANCE
the consent of his partners;
-voluntary transfer of a right or of property
- A partner's right in specific partnership property is not
assignable except in connection with the assignment of EFFECTS OF CONVEYANCE BY PARTNER OF HIS WHOLE
rights of all the partners in the same property; INTEREST IN THE PARTNERSHIP
- A partner's right in specific partnership property is not -part conveys his whole interest may still subsist or it
subject to attachment or execution, except on a claim may not be dissolved
against the partnership. When partnership property is
attached for a partnership debt the partners, or any of -assignee cannot interfere in the management, cannot
them, or the representatives of a deceased partner, require information or accounting, cannot inspect
cannot claim any right under the homestead or partnership books
exemption laws; RIGHTS OF THE ASSIGNEE
- A partner's right in specific partnership property is not - receive the profits to which the assigning partner
subject to legal support under Article 291. would otherwise be entitled
ASSIGNMENT - In case of fraud in the management of the partnership,
-transfer of rights/property the assignee may avail himself of the usual remedies
provided by law
ARTICLE 1812
- case of dissolution, to receive the assignor's interest
-partner’s interest in the partnership is his share of
profits and surplus - case of dissolution, the assignee may require an
account from the date only of the last account agreed to
PROFITS by all the partners.
-excess of revenues over expenditures ARTICLE 1814
SURPLUS - Without prejudice to the preferred rights of
partnership creditors under Article 1827, on due
-excess of receipts over disbursements
application to a competent court by any judgment
ARTICLE 1813 creditor of a partner, the court which entered the
judgment, or any other court, may charge the interest of
- A conveyance by a partner of his whole interest in the
the debtor partner with payment of the unsatisfied
partnership does not of itself dissolve the partnership,
amount of such judgment debt with interest thereon;
or, as against the other partners in the absence of
and may then or later appoint a receiver of his share of
agreement, entitle the assignee, during the continuance
the profits,and of any other money due or to fall due to
of the partnership, to interfere in the management or
him in respect of the partnership, and make all other
administration of the partnership business or affairs, or
orders, directions, accounts and inquiries which the
to require any information or account of partnership
debtor partner might have made, or which the
transactions, or to inspect the partnership books; but it
circumstances of the case may require.
merely entitles the assignee to receive in accordance
with his contract the profits to which the assigning - interest charged may be redeemed at any time before
partner would otherwise be entitled. However, in case foreclosure, or in case of a sale being directed by the
of fraud in the management of the partnership, the court, may be purchased without thereby causing a
assignee may avail himself of the usual remedies. dissolution:
- With separate property, by any one or more of the - partner, cannot avail himself of the exemption laws
partner insofar as his right in specific partnership property is
concerned.
- With the partnership property, by any one or more of
the partners charged or consent sold.

- Nothing in this Title shall be held to deprive a partner

of his right. if any, under the exemption laws, as regards
his interest in the partnership

CHARGING ORDER

- refers to the remedy available to a judgment creditor

of a debtor-partner to charge the interest of the latter in
the partnership by means of a court order for the
purpose of satisfying the amount of the judgment.

APPOINTMENT OF A RECEIVER

-court may or later appoint a receiver of the partner

debtors share of the profits and other money due or fall
due to him and make all other orders, directions,
accounts, inquiries might have made or circumstances
may require

REDEMPTION OF INTEREST CHARGED

BEFORE FORECLOSURE

- charged may be redeemed at any time before

foreclosure.

AFTER FORECLOSURE

- may still be purchased without thereby causing a

dissolution:

With separate property of a partner

-With partnership property with the consent of all the

partners whose interests are not so charged or sold.

-with separate property of a partner

-with partnership with consent of all the partners

REDEMPTION

-extinguishment of the charge or attachment on the

partner’s interest in the profits

RIGHT OF A PARTNER UNDER EXEMPTION LAWS

- partner shall not be deprived of his right under the

exemption laws, as regards his interest in the
partnership.