Civil Code Art. 1808: Obligations

Statute: Civil Code
Article: Art. 1808
Topic: Obligations of the Partners
Status: In force
Book: BOOK IV Obligations and Contracts
Title: TITLE IX PARTNERSHIP
Chapter: CHAPTER 2 Obligations of the Partners
Year: 1949

The provision

The capitalist partners cannot engage for their own account in any operation which is of the kind of business in which the partnership is engaged, unless there is a stipulation to the contrary. Any capitalist partner violating this prohibition shall bring to the common funds any profits accruing to him from his transactions, and shall personally bear all the losses. (n)

Civil Code, Art. 1808 is found in CHAPTER 2 Obligations of the Partners of TITLE IX PARTNERSHIP of BOOK IV Obligations and Contracts of the Civil Code of the Philippines (Republic Act No. 386).

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