remedy so that a writ of execution will not be proper.

However, if the judgment debt remains

unsatisfied, the court may resort to other courses of action notwithstanding the issuance of
the charging order.

Redemption or purchase of interest charged

Redemptioner – The interest of the debtor- partner so charged may be redeemed or
purchased w/ the separate property of any one or more of the partners, or w/ partnership
property but w/ the consent of all the partners whose interests are not so charged or sold.

Redemption Price – The value of the partner’s interest in the partnership has no
bearing on the redemption price w/c is likely to be lower since it will be dependent on the
amount of the unsatisfied judgment debt.

Right of redeeming non-debtor partner – There deeming non-debtor partner does not acquire
absolute ownership over the debtor-partner’s interest but holds it in trust for him consistent
w/ principles of fiduciary relationship.

Rights of partner under exemption laws

A partner cannot claim any right under the homestead laws or exemption laws when
specific partnership property is attached for partnership debt. W/ respect, however, to the
partner’s interest in the partnership as distinguished from his interest in specific partnership
property, the partner may avail himself of the exemption laws after partnership debts have
been paid. A partner’s interest or share in the partnership property is really his property.

Art. 1815. Every partnership shall operate under a firm name, which may or may not include
the name of one or more of the partners, those who, not being members of the partnership,
include their names in the firm name, shall be subject to liability of a partner

Requirement of the firm name

Meaning of word “firm” – The name, title, or style under which a company transacts
business; a partnership of two or more persons; a commercial house. In its common
acceptation, the term implies a partnership. The term is also used as
synonymous with “company,” “house,” and “concern.”

Importance of having a firm name

A partnership must have a firm name under which it will operate. A firm name is
necessary to distinguish the partnership, which has a distinct and separate juridical
personality from the individuals composing the partnership and from other partnerships
and entities.

Right of the partners to choose firm name The partners enjoy the utmost freedom in the
selection of the partnership name.
As a general rule, they may adopt any firm name desired.

Use of misleading name – The partners cannot use a name that is identical or
deceptively confusingly similar to that of any existing partnership or corporation or to
any other name already protected by law or is patently deceptive, confusing or
contrary to existing laws, as to mislead the public by passing itself off as another
partnership or corporation, or its goods or services as those of such other company.

Liability inclusion of name in the firm name

– Persons who, not being partners, include their names in the firm name do not acquire
the rights of a partner but shall be subject to the liability of a partner insofar as 3rd
Persons without notice are concerned. Such persons become partners by estoppel. Art.
1815 does not cover the case of a limited partner who allows his name to be included
in the firm name, orof a person continuing the business of a partnership after
dissolution, who uses the name of the dissolved partnership or the name of a
deceased partner as part thereof.

Art. 1816. All partners, including industrial ones, shall be liable pro rata with all their
property and after all the partnership assets have been exhausted, for the contracts
which may be entered into in the name and for the account of the partnership, under
its signature and by a person authorized to act for the partnership. However, any
partner may enter into a separate obligation to perform a partnership contract.

Article 1816 distinguished from article 1787