La. Civ. Code art. 2840
This is the official text of La. Civ. Code art. 2840, part of Louisiana’s Civil Code — louisiana's civil law tradition codifies persons, property, obligations, and family relations here rather than in a separate statutory code.
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Partner in commendam; liability; agreed contribution.
Official statutory text
A partner in commendam must agree to make a contribution to the partnership. The contribution may consist of money, things, or the performance of nonmanagerial services. The partnership agreement must describe the contribution and state either its agreed value or a method of determining it. The contract should also state the time or circumstances upon which the money or other things are to be delivered, or the services are to be performed, and if it fails to do so, payment is due on demand.
A partner in commendam is liable for the obligations of the partnership only to the extent of the agreed contribution. If he does not make the contribution, or contributes only part of it, he is obligated to contribute money, or other things equal to the portion of the stated value that he has failed to satisfy. The court may award specific performance if appropriate.
Acts 1980, No. 150, ยง1.
A partner in commendam is liable for the obligations of the partnership only to the extent of the agreed contribution. If he does not make the contribution, or contributes only part of it, he is obligated to contribute money, or other things equal to the portion of the stated value that he has failed to satisfy. The court may award specific performance if appropriate.
Acts 1980, No. 150, ยง1.
Status: in_force · Read it on the official government site
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