Article 2840

Partner in commendam; liability; agreed contribution. ACTIVE

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.

Actions

References

None.

Cited by

None.

History

  • enactment Acts 1980, No. 150, §1

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Cite Article 2840

Bluebook
La. Civ. Code art. 2840 (2026).
Permalink
https://theusufruct.com/cc/2840
BibTeX
@misc{lacivcode-art-2840,
  title        = {La. Civ. Code art. 2840},
  howpublished = {Louisiana Civil Code},
  year         = {2026},
  url          = {https://theusufruct.com/cc/2840},
  note         = {Snapshot 2026-05-22}
}