TITLE XI–PARTNERSHIP CHAPTER 1–GENERAL PRINCIPLES Art. 2801. Partnership; definition. A partnership is a juridical person, distinct from its partners, created by a contract between two or more persons to combine their efforts or resources in determined proportions and to collaborate at mutual risk for their common profit or commercial benefit. Trustees and succession representatives, in […]
Art. 2802. Applicability of rules of conventional obligations. The contract of partnership is governed by the provisions in the Title: Of Conventional Obligations, in all matters that are not otherwise provided for by this Title. Acts 1980, No. 150, §1.
Art. 2803. Participation of partners. Each partner participates equally in profits, commercial benefits, and losses of the partnership, unless the partners have agreed otherwise. The same rule applies to the distribution of assets, but in the absence of contrary agreement, contributions to capital are restored to each partner according to the contribution made. Acts 1980, […]
Art. 2804. Participation in one category only. If a partnership agreement establishes the extent of participation by partners in only one category of either profits, commercial benefits, losses, or the distribution of assets other than capital contributions, partners participate to that extent in each category unless the agreement itself or the nature of the participation […]
Art. 2805. Name of the partnership. A partnership may adopt a name with or without the inclusion of the names of any of the partners. If no name is adopted, the business must be conducted in the name of all the partners. Acts 1980, No. 150, §1.
Art. 2806. Ownership of immovable property; retroactivity of partnership’s existence; acquisition of immovable property prior to partnership’s existence A. An immovable acquired in the name of a partnership is owned by the partnership if, at the time of acquisition, the contract of partnership was in writing. If the contract of partnership was not in writing […]
Art. 2807. Decisions affecting the partnership. Unless otherwise agreed, unanimity is required to amend the partnership agreement, to admit new partners, to terminate the partnership, or to permit a partner to withdraw without just cause if the partnership has been constituted for a term. Decisions affecting the management or operation of a partnership must be […]
