This case has been cited 1 times or more.
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2003-07-14 |
PANGANIBAN, J. |
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| We hold that respondents have no right to demand from petitioners the return of their equity share. Except as managers of the partnership, petitioners did not personally hold its equity or assets. "The partnership has a juridical personality separate and distinct from that of each of the partners."[23] Since the capital was contributed to the partnership, not to petitioners, it is the partnership that must refund the equity of the retiring partners.[24] | |||||