Characteristics of the Liability of the Partners in the Partnership Cover Image
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Особености на отговорността на съдружниците в събирателното дружество
Characteristics of the Liability of the Partners in the Partnership

Author(s): Aneta Antonova
Subject(s): Law, Constitution, Jurisprudence, Commercial Law
Published by: Софийски университет »Св. Климент Охридски«

Summary/Abstract: A distinctive feature of the general partnership is the joint and unlimited liability of the partners for the obligations of the company. In accordance with Art. 76 of the Commercial Act the company and the partners are jointly liable before the company creditors, i.e. there is a passive liability. The following deviations from the absolute and relative action of the passive liability are observed in the relations between the general partnership and the partners: the partner has an objection regarding the order of fulfilling a joint obligation – the creditor should first direct his claim to the company’s property; the execution of the company’s obligation determines the execution of partners’ obligations; the delay of the company entails delay of the partners; the partners are liable for non-feasance and the general partnership may be charged with it; a renewed agreement, signed between the general partnership and the creditors binds also the partners irrespective of whether the respective creditor has preserved his rights in relation to them; if a company creditor releases an obligation of the company, he releases the partners from the debt.

  • Issue Year: 2004
  • Issue No: 1
  • Page Range: 20-26
  • Page Count: 7
  • Language: Bulgarian