P.R. Laws tit. 10, § 1371
2019-02-20 00:00:00+00
The partners cannot apply the funds of the copartnership nor make use of the firm signature for business for their own account; and should they do so, they shall lose to the benefit of the company that part of the profit which in the transaction or transactions made in this manner may be due them, and the articles of copartnership insofar as they are concerned shall be annulled, without prejudice to the return of the funds they may have made use of, and to indemnify the copartnership for all loss and damage which it may have suffered.
History —Commerce Code, 1932, § 112.