Question
Facts: Christian Louboutin, Alessandro Michele, and Donatella Versace are the partners in Luxury Goods Company. The company engaged in a caf business. Considering that the
Facts: Christian Louboutin, Alessandro Michele, and Donatella Versace are the partners in Luxury Goods Company. The company engaged in a caf business. Considering that the caf accepts delivery orders, the partnership bought 30 motorcycles for a total of 1 million pesos payable for 5 years. However, the company is not doing well, thus, the partnership was not able to pay 5 instalments. As a consequence, all motorcycles were foreclosed. During the foreclosure sale, Louboutin bought all motorcycles using his personal money. A certificate of sale was issued under his name. Partner Michele and Versace opposed the registration of Louboutin as the new absolute owner. According to them, the motorcycles must still be registered in the name of partnership even if Louboutin uses his own money.
Issue: When Louboutin redeemed the motorcycles using his own funds, did he become the absolute owner of all the motorcycles since a partner is liable up to the extent of his separate property? Explain your ruling concisely.
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