You are on page 1of 2

Article 1810.

 The property rights of a partner are:

(1) His rights in specific partnership property;

(2) His interest in the partnership; and

(3) His right to participate in the management

IN GENERAL,
The property rights of a partner are:
(1) Rights in specific partnership property;
(2) Interest in the partnership; and
(3) Right to participate in the management.
RIGHTS IN SPECIFIC PROPERTY
(1) The partners have equal rights to possess partnership property for partnership purposes.
(2) For other purposes, the consent of his partners is necessary.
(3) If the partner is excluded, he may ask for:
(a) Formal accounting [Art. 1809]; or
(b) Dissolution by judicial decree [Art. 1831].
(4) A partner’s right in such property is not assignable, except when all the partners assign their
rights in the same property;
(5) The right is not subject to attachment or execution, except on a claim against the
partnership. In case of such attachment, the partners, or any of them, or the representatives of a
deceased partner, cannot claim any right under the homestead or exemption laws.
(6) The right is not subject to legal support under Article 291 [Art. 1811].

INTEREST IN PARTNERSHIP
A partner’s interest in the partnership is his share of the profits and surplus [Art. 1812].

ASSIGNMENT OF INTEREST
Assignment by a partner of his whole interest in the partnership, of itself:
(1) Does not dissolve the partnership; or
(2) Does not entitle the assignee to:
(a) Interfere in the management or administration of the partnership business or affairs;
(b) Require information or account of partnership; or
(c) Inspect the partnership books.

It merely entitles the assignee to:


(1) Receive the profits to which the assigning partner was entitled;
(2) In case of fraud in management, avail himself of the usual remedies;
(3) In case of dissolution:
(a) Receive his assignor’s interest; and
(b) Require an accounting from the date only of the last account agreed to by all
the partners [Art. 1813].

RIGHT TO PARTICIPATE IN MANAGEMENT

Management of the partnership is primarily governed by the agreement of the partners in the
articles of partnership. It may be stipulated that the partnership will be managed by:
(1) All the partners; or
(2) A number of partners appointed as managers, which may be appointed:
(a) In the articles of partnership; or (
b) After constitution of the partnership.

You might also like