P.R. Laws tit. 10, § 1433
2019-02-20 00:00:00+00
When the capital or the part thereof which a partner is to contribute consists of property, the appraisement thereof shall be made in the manner prescribed in the articles of association, and should there be no special agreement on the matter the appraisement shall be made by experts selected by both parties and according to current prices, subsequent increases or reductions therein being for the account of the association.
In case of disagreement between the experts a third shall be designated, selected by lot from among persons of his class who appear as paying the highest taxes in the locality, in order that he may adjust the disagreement.
History —Commerce Code, 1932, § 135.