Civil Code · Book IV: Obligations and Contracts · Title IX: Partnership
Chapter 2: Obligations of the Partners · Sec. 1: Obligations of the Partners Among Themselves
Current text, as of October 24, 2026
A partner who has undertaken to contribute a sum of money and fails to do so becomes a debtor for the interest and damages from the time he should have complied with his obligation.
The same rule applies to any amount he may have taken from the partnership coffers, and his liability shall begin from the time he converted the amount to his own use. (1682)
Consolidated by Alleba from the text of Republic Act No. 386 (Lawphil and the Supreme Court E-Library). Book I provisions on marriage, family relations and parental authority were repealed by the Family Code (Executive Order No. 209, 1987) and are shown for reference only. For information and research only, and not legal advice. For certified copies, refer to the Official Gazette or the issuing agency.