P.R. Laws tit. 10, § 1451

2019-02-20 00:00:00+00
§ 1451. Partial rescission of articles of copartnership, when proper

The partial rescission of the articles of general and limited commercial copartnerships shall be proper in any of the following cases:

(1) When a partner makes use of the common capital and of the firm name for private business.

(2) When a partner interferes in the management of the company who has no right to do so, according to the conditions of the articles of copartnership.

(3) When any partner intrusted with the management commits a fraud in said management or in the bookkeeping of the copartnership.

(4) When any partner fails to contribute to the common capital the amount stipulated in the articles of copartnership, after having been requested to do so.

(5) When a partner transacts commercial business for his own account, which is not lawful in accordance with the provisions of §§ 1372, 1373, and 1374 of this title.

(6) When a partner who is under the obligation to render personal services to the copartnership absents himself, after having been requested to return and comply with his duties, and does not do so or does not give a good reason which temporarily prevents him from returning.

(7) When one or more partners do not comply, in any manner whatsoever, with the obligations imposed in the articles of copartnership.

History —Commerce Code, 1932, § 138.