9. CAMPOS RUEDA vs.

PACIFIC COMMERCIAL HELD:

CO.
YES. Unlike the common law, the Philippine
GR NO. 18703 (1922) statutes consider a limited partnership as a
juridical entity for all intents and purposes,
TOPIC: Doctrine of Separate Juridical Personality which personality is recognized in all its acts and
of Partnership contracts (art. 116, Code of Commerce).

FACTS: This being so and the juridical personality of a

Campos Rueda & Co., a limited partnership, was
indebted to Pacific Commercial Co., Asiatic
Petroleum CO., and International Banking
Corporation for an amount not less than
Php1,000.00 (which was not paid more than 30
days from the filing of involuntary insolvency of
Campos Reuda & Co.).
Later on, Campos Rueda & Co., applied for
involuntary insolvency in which the trial court
denied on the ground that it was not proven, nor
alleged, that the members of the said firm were
insolvent at the time the application was filed,
and that the said partners were personally and
solidarily liable for the consequences of the
transactions of the partnership, and it cannot be
adjudged insolvent so long as the partners are
not alleged and proven to be insolvent.
limited partnership being different from that of
its members, it must, on general principle,
answer for, and suffer, the consequence of its
acts as such an entity capable of being the
subject of rights and obligations.
If, as in the instant case, the limited partnership
of Campos Rueda & Co. Failed to pay its
obligations with three creditors for a period of
more than thirty days, which failure constitutes,
under our Insolvency Law, one of the acts of
bankruptcy upon which an adjudication of
involuntary insolvency can be predicated, this
partnership must suffer the consequences of
such a failure, and must be adjudged insolvent.

ISSUE:
Whether or not a limited partnership which has
failed to pay its obligation with 3 creditors for
more than 30 days, may be held to have
committed an act of insolvency, thereby be
adjudged insolvent against its will.