The copartnership must pay to the partners the expenses they may incur, and indemnify them for the damages they may suffer, immediately and directly by reason of the business which the former may intrust to them; but it shall not be bound to indemnify them for the losses they may suffer by their own fault, through accident or on account of any other reason, independent of the business, during the time they may have been engaged in transacting the same.
History —Commerce Code, 1932, § 119.