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Jacinto vs. Bernardo & Co. et al.

NICANOR JACINTO, as administrator of the estate of the deceased Silvino Lim, plaintiff-appellee, vs. BERNARDO & CO. ET AL., defendants-appellants.

G.R. No. 28185 | 1928-12-29

D E C I S I O N


OSTRAND, J.:

In October, 1920, Pedro Claudio, Manuel Escobar, Joaquin Lazo, Josefa Bernardo, Felicidad Bernardo and Vicenta Pantangco organized a so-called mercantil collective partnership, under the name and style of "Bernardo & Company," as successor to another partnership organized in July, 1910, apparently by the same parties. The partnership articles provided for the admission of cuentas en participacion or joint accounts. Article 8 of the document reads as follows:

"No participant in joint account can separate himself from the partnership, except after the annual balance is made, giving notice in...