- Statute
- Civil Code
- Article
- Art. 1797
- Topic
- Obligations of the Partners
- Book
- BOOK IV Obligations and Contracts
- Title
- TITLE IX PARTNERSHIP
- Chapter
- CHAPTER 2 Obligations of the Partners
- Formerly
- Art. 1689a of the old Civil Code
- Year
- 1949
The provision
The losses and profits shall be distributed in conformity with the agreement. If only the share of each partner in the profits has been agreed upon, the share of each in the losses shall be in the same proportion. In the absence of stipulation, the share of each partner in the profits and losses shall be in proportion to what he may have contributed, but the industrial partner shall not be liable for the losses. As for the profits, the industrial partner shall receive such share as may be just and equitable under the circumstances. If besides his services he has contributed capital, he shall also receive a share in the profits in proportion to his capital. (1689a)
Cases applying this article
- Antonia Torres Assisted By Her Husband v. Court of Appeals G.R. No. 134559
- Marsman Drysdale Land v. Philippine Geoanalytics G.R. No. 183374
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