Page 440 - Important Provisions of The New Civil Code

Article 1837. When dissolution is caused in any

way, except in contravention of the partnership

agreement, each partner, as against his co-

partners and all persons claiming through them

in respect of their interests in the partnership,

unless otherwise agreed, may have the

partnership property applied to discharge its

liabilities, and the surplus applied to pay in cash

the net amount owing to the respective

partners. But if dissolution is caused by

expulsion of a partner, bona fide under the

partnership agreement and if the expelled

partner is discharged from all partnership

liabilities, either by payment or agreement

under the second paragraph of Article 1835, he

shall receive in cash only the net amount due

him from the partnership.