Page 430 - Important Provisions of The New Civil Code

Article 1816. All partners, including industrial

ones, shall be liable pro rata with all their

property and after all the partnership assets

have been exhausted, for the contracts which

may be entered into in the name and for the

account of the partnership, under its signature

and by a person authorized to act for the

partnership. However, any partner may enter

into a separate obligation to perform a

partnership contract. (n)