What are the rights and obligations of partners in a partnership? | 07 December 2023

The law says: “Article 1812. A partner’s interest in the partnership is his share of the profits and surplus.” (Article 1812, Civil Code)

What are the rights and obligations of partners in a partnership?

The law says:

“Article 1803. When the manner of management has not been agreed upon, the following rules shall be observed:

(1) All the partners shall be considered agents and whatever any one of them may do alone shall bind the partnership, without prejudice to the provisions of article 1801.

(2) None of the partners may, without the consent of the others, make any important alteration in the immovable property of the partnership, even if it may be useful to the partnership. But if the refusal of consent by the other partners is manifestly prejudicial to the interest of the partnership, the court’s intervention may be sought.”

(Article 1803, Civil Code)

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