The document summarizes a legal case from 1925 regarding the dissolution of a partnership. It describes:
- The plaintiffs and defendant entered into a partnership in 1919 to construct a railroad, with agreed capital of 150,000 pesos. However, expenses reached 226,092 pesos by 1920.
- In 1920, the defendant sold his estate and business to two other parties, who then bought out the plaintiffs' share of the railroad in 1921.
- The parties agreed to dissolve the partnership, but the plaintiffs argued this did not discharge the defendant's liability for costs exceeding the original capital.
- The court ruled that dissolution does not exempt partners from existing obligations, as the partnership must still be considered in existence
Descripción original:
Digest Testate Estate of Mota vs. Serra, 47 Phil 464 (1925)
The document summarizes a legal case from 1925 regarding the dissolution of a partnership. It describes:
- The plaintiffs and defendant entered into a partnership in 1919 to construct a rai…