The defendant offered the sum of P5,550.

09 for the year

ending December 31, 1931.As a deposit of one-fourth of
the amount of the bid was required each of the partners
put upone third of this amount. This bid, being the
highest, was accepted by the municipality and
theprivilege was awarded to the defendant. The latter
entered upon his duties under the contract andgave an
account of two sales of "semillas de bañgus", to
Tiburcio Lutero as representative of theplaintiff
Magalona. As the defendant, on April 21, 1931, had on
hand only P410 he wired, Lutero forsufficient money to
complete the payment of the first quarter which was to be
paid within the firsttwenty days of the second quarter of the
year 1931.The defendant managed the business from
January 1, 1931, and with the exception of thetwo sales
above-mentioned, never gave any account of his
catches or sales to his partners, theplaintiffs. In view of
this the herein complaint was filed April 21, 1931, in which
it was prayed that a

receiver be appointed by the court to take charge

of the funds of the partnership and the management
of its affairs; that the defendant be ordered to render an
account of his managementand to pay to the plaintiff their
participation in the profits thereof; that the defendant be
required toturn over to the receiver all of the funds of the
partnership and that the defendant be condemned topay
the costs.The plaintiffs put up a bond of P5,000 and a
receiver was appointed who also put up a bondfor the
same amount.The receiver took over the
management and took possession of all the devices
andimplements used in the catching of "semillas de
bañgus".At the trial it was proven that before April 20,
1931, the defendant obtained and sold a totalof 975,000
"semillas de bañgus" the market value of which was P3
per thousand. The defendant