Abad, Bagang & MananquilArt. 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 havecontributed to the partnership, in the same cases and in the same manner as the vendor is bound with respect to the vendee. Heshall also be liable for the fruits thereof from the time they should have been delivered, without the need of any demand. (1681a)
OBLIGATIONS WITH RESPECT TO CONTRIBUTION OF PROPERTY1.
To contribute at the beginning of the partnership or at the stipulated time the money, property or industry which hepromised2.
To answer for eviction in case the partnership is deprived of the determinate property contributed3.
To answer to the partnership for the fruits of the property the contribution of which he delayed4.
To preserve the property with diligence of a good father of a family pending delivery5.
To indemnify the partnership for any damage caused to it by the retention of the property or by delay in its contributionEFFECT OF FAILURE TO CONTRIBUTE PROPERTY PROMISED-
It will make the partner ipso jure a debtor of the partnership even in the absence of any demand-
The remedy is not rescission but an action for specific performance with damages and interest from the defaulting partnerLIABILITY OF PARTNER IN CASE OF EVICTION-
Eviction shall takes place whenever by a final judgment based on a right prior to the sale or an act imputable to the vendor,the vendee (partnership) is deprived of the whole or a part of the thing purchased-
Governed by the law on sales (Art. 1547)LIABILITY OF PARTNER FOR FRUITS OF PROPERTY IN CASE OF DELAY-
No demand is necessary-
From the time the partner ought to deliver up to the time of actual deliveryLIABILITY OF PARTNER FOR FAILURE TO PERFORM SERVICE STIPULATED-
Partners are not entitled to charge each other except when there is a stipulation providing otherwise-
If a partner neglects or refuses to render service without justifiable cause, which caused loss to the partnership, he may beheld liable
Art. 1787.When the capital or a part thereof which a partner is bound to contribute consists of goods, their appraisal must bemade in the manner prescribed in the contract of partnership, and in the absence of stipulation, it shall be made by expertschosen by the partners, and according to current prices, the subsequent changes thereof being for account of the partnership. (n)
APPRAISAL OF GOODS OR PROPERTY CONTRIBUTED-
Appraisal is necessary to determine how much has been contributed by the partners-
The appraisal is made by:1.
If there is no stipulation experts chosen by the partners and according to current prices
Art. 1788.A partner who has undertaken to contribute a sum of money and fails to do so becomes a debtor for the interest anddamages from the time he should have complied with his obligation.The same rule applies to any amount he may have taken from the partnership coffers, and hisliability shall begin from the time he converted the amount to his own use. (1682)
OBLIGATIONS WITH RESPECT TO CONTRIBUTION OF MONEY (PAR. 1) AND MONEY CONVERTED TOPERSONAL USE (PAR. 2)1.
To contribute on the date due2.
To reimburse any amount he may have taken for his own use3.
To pay the agreed or legal interest, if he fails to pay on time4.
To indemnify the partnership for the damages