The partnership has its own juridical personality distinct and separate from that of the partners. This basic principle in partnership law is reflected in the various provisions that you learned on the rights and obligations of partners.

To begin with, while partners contribute money or property to provide capitalization for the partnership business, once delivered, ownership over such money or property passes on to the partnership. Thus, a partner can only use specific partnership property for partnership purposes. A partner who failed to make a timely delivery of his/her promised cash contribution is considered a debtor of the partnership and should pay interest, including damages, if applicable.

Moreover, even as partners are agents of the partnership, their right to manage the partnership does not give them a free hand to dissipate partnership assets. The power of a managing partner who abuses his/her authority can be revoked.

Recall the many other instances where partners have to put the partnership interest ahead of their own.Technically speaking, if it were not for the partners' contribution of money, property and industry, no partnership would be created but why did the Civil Code withhold absolute power from the partners? Is this really how it should be? Why or Why not?