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C. F. Arbenz Vs. Otto Gmur 032 Phil 117

C. F. ARBENZ, as liquidator of Sprungli & Co., plaintiff-appellee, vs. OTTO GMUR, defendant-appellant.

G.R. No. 10102 | 1916-10-30

D E C I S I O N


TRENT, J.:

Sprungli & Co. (consisting of Albert K. Sprungli, Emilio H. Sprungli and Otto Gmur), a duly registered mercantile partnership, commenced business in March, 1911, taking over the assets and liabilities of the old firm of Sprungli & Co. which had been dissolved by the death of the senior partner who was the father of the above-named Sprunglis. Gmur was also a partner in the old firm. The partnership capital of the new firm was fixed at P200,000, of which Gmur undertook to contribute P40,000 and the two Sprunglis P160,000. The partnership was to last five years, and all the partners were designated as managers....