Sec 3 : Obligations W/ Regard to 3rd Persons (1815-1827)

Question 1

1815: Every pships shall operate under a ____.

Those who, not being members, include their name shall be subject to____

Answer 1

FIRM NAME, which may or may not include the name of 1 or more of the partners.
the liability of a partner (but not the rights, ofcourse)

Question 2

1816: For the contracts which may be entered into in the name and for the account of the pship, under its signature and by a person authorized to act for the pship, all partners (includin the industrial ones) shall ______

Answer 2

BE LIABLE PRO RATA with all their property and after all the partnership assets have been exhausted.

Question 3

1817: Any stipulation against the liability laid down in the preceding article shall be VOID, except _____.

Answer 3

as among the partners.

Question 4

1816: Nature of contractual liability of partners to 2rd persons

Answer 4

1. Pro rata (imposed upon all partners)

2. Subsidiary ( liable with his separate property after all assests have been exhausted)