Title IX. - PARTNERSHIP CHAPTER 1 GENERAL PROVISIONS Art. 1767. By the co tr!ct o" #!

rt er$hi# t%o or &ore #er$o $ 'i ( the&$el)e$ to co tri'*te &o ey+ #ro#erty+ or i (*$try to ! co&&o "* (+ %ith the i te tio o" (i)i(i , the #ro"it$ !&o , the&$el)e$. T%o or &ore #er$o $ &!y !l$o "or& ! #!rt er$hi# "or the e-erci$e o" ! #ro"e$$io .
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Art. 1761. The #!rt er$hi# h!$ ! 2*(ici!l #er$o !lity $e#!r!te ! ( (i$ti ct "ro& th!t o" e!ch o" the #!rt er$+ e)e i c!$e o" "!il*re to co&#ly %ith the re3*ire&e t$ o" Article 1774+ "ir$t #!r!,r!#h. . 0 Art. 1765. I (eter&i i , %hether ! #!rt er$hi# e-i$t$+ the$e r*le$ $h!ll !##ly6 .10 E-ce#t !$ #ro)i(e( 'y Article 114/+ #er$o $ %ho !re ot #!rt er$ !$ to e!ch other !re ot #!rt er$ !$ to thir( #er$o $7 .40 Co-o% er$hi# or co-#o$$e$$io (oe$ ot o" it$el" e$t!'li$h ! #!rt er$hi#+ %hether $*ch-co-o% er$ or co-#o$$e$$or$ (o or (o ot $h!re ! y #ro"it$ &!(e 'y the *$e o" the #ro#erty7 .80 The $h!ri , o" ,ro$$ ret*r $ (oe$ ot o" it$el" e$t!'li$h ! #!rt er$hi#+ %hether or ot the #er$o $ $h!ri , the& h!)e ! 2oi t or co&&o ri,ht or i tere$t i ! y #ro#erty "ro& %hich the ret*r $ !re (eri)e(7 .90 The recei#t 'y ! #er$o o" ! $h!re o" the #ro"it$ o" ! '*$i e$$ i$ #ri&! "!cie e)i(e ce th!t he i$ ! #!rt er i the '*$i e$$+ '*t o $*ch i "ere ce $h!ll 'e (r!% i" $*ch #ro"it$ %ere recei)e( i #!y&e t6 .!0 A$ ! (e't 'y i $t!ll&e t$ or other%i$e7 .'0 A$ %!,e$ o" ! e&#loyee or re t to ! l! (lor(7 .c0 A$ ! ! *ity to ! %i(o% or re#re$e t!ti)e o" ! (ece!$e( #!rt er7

.(0 A$ i tere$t o ! lo! + tho*,h the !&o* t o" #!y&e t )!ry %ith the #ro"it$ o" the '*$i e$$7 .e0 A$ the co $i(er!tio "or the $!le o" ! ,oo(%ill o" ! '*$i e$$ or other #ro#erty 'y i $t!ll&e t$ or other%i$e. . 0 Art. 177:. A #!rt er$hi# &*$t h!)e ! l!%"*l o'2ect or #*r#o$e+ ! ( &*$t 'e e$t!'li$he( "or the co&&o 'e e"it or i tere$t o" the #!rt er$. ;he ! * l!%"*l #!rt er$hi# i$ (i$$ol)e( 'y ! 2*(ici!l (ecree+ the #ro"it$ $h!ll 'e co "i$c!te( i "!)or o" the St!te+ %itho*t #re2*(ice to the #ro)i$io $ o" the Pe !l Co(e ,o)er i , the co "i$c!tio o" the i $tr*&e t$ ! ( e""ect$ o" ! cri&e. .1666!0 Art. 1771. A #!rt er$hi# &!y 'e co $tit*te( i ! y "or&+ e-ce#t %here i&&o)!'le #ro#erty or re!l ri,ht$ !re co tri'*te( thereto+ i %hich c!$e ! #*'lic i $tr*&e t $h!ll 'e ece$$!ry. .1667!0

Art. 1774. E)ery co tr!ct o" #!rt er$hi# h!)i , ! c!#it!l o" three tho*$! ( #e$o$ or &ore+ i &o ey or #ro#erty+ $h!ll !##e!r i ! #*'lic i $tr*&e t+ %hich &*$t 'e recor(e( i the O""ice o" the Sec*ritie$ ! ( E-ch! ,e Co&&i$$io . <!il*re to co&#ly %ith the re3*ire&e t$ o" the #rece(i , #!r!,r!#h $h!ll ot !""ect the li!'ility o" the #!rt er$hi# ! ( the &e&'er$ thereo" to thir( #er$o $. . 0 Art. 1778. A co tr!ct o" #!rt er$hi# i$ )oi(+ %he e)er i&&o)!'le #ro#erty i$ co tri'*te( thereto+ i" ! i )e tory o" $!i( #ro#erty i$ ot &!(e+ $i, e( 'y the #!rtie$+ ! ( !tt!che( to the #*'lic i $tr*&e t. .1661!0 Art. 1779. A y i&&o)!'le #ro#erty or ! i tere$t therei &!y 'e !c3*ire( i the #!rt er$hi# !&e. Title $o !c3*ire( c! 'e co )eye( o ly i the #!rt er$hi# !&e.
. 0

Art. 177/. A$$oci!tio $ ! ( $ocietie$+ %ho$e !rticle$ !re =e#t $ecret !&o , the &e&'er$+ ! ( %herei ! y o e o" the &e&'er$ &!y co tr!ct i hi$ o% !&e %ith thir( #er$o $+ $h!ll h!)e o 2*ri(ic!l #er$o !lity+ ! ( $h!ll 'e ,o)er e( 'y the #ro)i$io $ rel!ti , to co-o% er$hi#. .16650 Art. 1776. A$ to it$ o'2ect+ ! #!rt er$hi# i$ either * i)er$!l or #!rtic*l!r. A$ re,!r($ the li!'ility o" the #!rt er$+ ! #!rt er$hi# &!y 'e ,e er!l or li&ite(. .1671!0 Art. 1777. A * i)er$!l #!rt er$hi# &!y re"er to !ll the #re$e t #ro#erty or to !ll the #ro"it$. .16740 Art. 1771. A #!rt er$hi# o" !ll #re$e t #ro#erty i$ th!t i %hich the #!rt er$ co tri'*te !ll the #ro#erty %hich !ct*!lly 'elo ,$ to the& to ! co&&o "* (+ %ith the i te tio o" (i)i(i , the $!&e !&o , the&$el)e$+ !$ %ell !$ !ll the #ro"it$ %hich they &!y !c3*ire there%ith. .16780 Art. 1775. I ! * i)er$!l #!rt er$hi# o" !ll #re$e t #ro#erty+ the #ro#erty %hich 'elo ,$ to e!ch o" the #!rt er$ !t the ti&e o" the co $tit*tio o" the #!rt er$hi#+ 'eco&e$ the co&&o #ro#erty o" !ll the #!rt er$+ !$ %ell !$ !ll the #ro"it$ %hich they &!y !c3*ire there%ith. A $ti#*l!tio "or the co&&o e 2oy&e t o" ! y other #ro"it$ &!y !l$o 'e &!(e7 '*t the #ro#erty %hich the #!rt er$ &!y !c3*ire $*'$e3*e tly 'y i herit! ce+ le,!cy+ or (o !tio c! ot 'e i cl*(e( i $*ch $ti#*l!tio + e-ce#t the "r*it$ thereo". .1679!0 Art. 171:. A * i)er$!l #!rt er$hi# o" #ro"it$ co&#ri$e$ !ll th!t the #!rt er$ &!y !c3*ire 'y their i (*$try or %or= (*ri , the e-i$te ce o" the #!rt er$hi#. >o)!'le or i&&o)!'le #ro#erty %hich e!ch o" the #!rt er$ &!y #o$$e$$ !t the ti&e o" the cele'r!tio o" the co tr!ct $h!ll co ti *e to #ert!i e-cl*$i)ely to e!ch+ o ly the *$*"r*ct #!$$i , to the #!rt er$hi#. .167/0 Art. 1711. Article$ o" * i)er$!l #!rt er$hi#+ e tere( i to %itho*t $#eci"ic!tio o" it$ !t*re+ o ly co $tit*te ! * i)er$!l #!rt er$hi# o" #ro"it$. .16760 Art. 1714. Per$o $ %ho !re #rohi'ite( "ro& ,i)i , e!ch other ! y (o !tio or !()! t!,e c! ot e ter i to * i)er$!l #!rt er$hi#. .16770 Art. 1718. A #!rtic*l!r #!rt er$hi# h!$ "or it$ o'2ect (eter&i !te thi ,$+ their *$e or "r*it$+ or $#eci"ic * (ert!=i ,+ or the e-erci$e o" ! #ro"e$$io or )oc!tio . .16710

CHAPTER 4 OBLIGATIONS O< THE PARTNERS SECTION 1. - O'li,!tio $ o" the P!rt er$ A&o , The&$el)e$ Art. 1719. A #!rt er$hi# 'e,i $ "ro& the &o&e t o" the e-ec*tio o" the co tr!ct+ * le$$ it i$ other%i$e $ti#*l!te(. .16750 Art. 171/. ;he ! #!rt er$hi# "or ! "i-e( ter& or #!rtic*l!r * (ert!=i , i$ co ti *e( !"ter the ter&i !tio o" $*ch ter& or #!rtic*l!r * (ert!=i , %itho*t ! y e-#re$$ !,ree&e t+ the ri,ht$ ! ( (*tie$ o" the #!rt er$ re&!i the $!&e !$ they %ere !t $*ch ter&i !tio + $o "!r !$ i$ co $i$te t %ith ! #!rt er$hi# !t %ill. A co ti *!tio o" the '*$i e$$ 'y the #!rt er$ or $*ch o" the& !$ h!'it*!lly !cte( therei (*ri , the ter&+ %itho*t ! y $ettle&e t or li3*i(!tio o" the #!rt er$hi# !""!ir$+ i$ #ri&! "!cie e)i(e ce o" ! co ti *!tio o" the #!rt er$hi#. . 0 Art. 1716. E)ery #!rt er i$ ! (e'tor o" the #!rt er$hi# "or %h!te)er he &!y h!)e #ro&i$e( to co tri'*te thereto. He $h!ll !l$o 'e 'o* ( "or %!rr! ty i c!$e o" e)ictio %ith re,!r( to $#eci"ic ! ( (eter&i !te thi ,$ %hich he &!y h!)e co tri'*te( to the #!rt er$hi#+ i the $!&e c!$e$ ! ( i the $!&e &! er !$ the )e (or i$ 'o* ( %ith re$#ect to the )e (ee. He $h!ll !l$o 'e li!'le "or the "r*it$ thereo" "ro& the ti&e they $ho*l( h!)e 'ee (eli)ere(+ %itho*t the ee( o" ! y (e&! (. .1611!0 Art. 1717. ;he the c!#it!l or ! #!rt thereo" %hich ! #!rt er i$ 'o* ( to co tri'*te co $i$t$ o" ,oo($+ their !##r!i$!l &*$t 'e &!(e i the &! er #re$cri'e( i the co tr!ct o" #!rt er$hi#+ ! ( i the !'$e ce o" $ti#*l!tio + it $h!ll 'e &!(e 'y e-#ert$ cho$e 'y the #!rt er$+ ! ( !ccor(i , to c*rre t #rice$+ the $*'$e3*e t ch! ,e$ thereo" 'ei , "or !cco* t o" the #!rt er$hi#. . 0 Art. 1711. A #!rt er %ho h!$ * (ert!=e to co tri'*te ! $*& o" &o ey ! ( "!il$ to (o $o 'eco&e$ ! (e'tor "or the i tere$t ! ( (!&!,e$ "ro& the ti&e he $ho*l( h!)e co&#lie( %ith hi$ o'li,!tio . The $!&e r*le !##lie$ to ! y !&o* t he &!y h!)e t!=e "ro& the #!rt er$hi# co""er$+ ! ( hi$ li!'ility $h!ll 'e,i "ro& the ti&e he co )erte( the !&o* t to hi$ o% *$e. .16140 Art. 1715. A i (*$tri!l #!rt er c! ot e ,!,e i '*$i e$$ "or hi&$el"+ * le$$ the #!rt er$hi# e-#re$$ly #er&it$ hi& to (o $o7 ! ( i" he $ho*l( (o $o+ the c!#it!li$t #!rt er$ &!y either e-cl*(e hi& "ro& the "ir& or !)!il the&$el)e$ o" the 'e e"it$ %hich he &!y h!)e o't!i e( i )iol!tio o" thi$ #ro)i$io + %ith ! ri,ht to (!&!,e$ i either c!$e. . 0 Art. 175:. ? le$$ there i$ ! $ti#*l!tio to the co tr!ry+ the #!rt er$ $h!ll co tri'*te e3*!l $h!re$ to the c!#it!l o" the #!rt er$hi#. . 0 Art. 1751. I" there i$ o !,ree&e t to the co tr!ry+ i c!$e o" ! i&&i e t lo$$ o" the '*$i e$$ o" the #!rt er$hi#+ ! y #!rt er %ho re"*$e$ to co tri'*te ! !((itio !l $h!re to the c!#it!l+ e-ce#t ! i (*$tri!l #!rt er+ to $!)e the )e t*re+ $h!ll he o'li,e( to $ell hi$ i tere$t to the other #!rt er$. . 0 Art. 1754. I" ! #!rt er !*thori@e( to &! !,e collect$ ! (e&! (!'le $*& %hich %!$ o%e( to hi& i hi$ o% !&e+ "ro& ! #er$o %ho o%e( the #!rt er$hi# ! other $*& !l$o (e&! (!'le+ the $*& th*$ collecte( $h!ll 'e !##lie( to the t%o cre(it$ i

#ro#ortio to their !&o* t$+ e)e tho*,h he &!y h!)e ,i)e ! recei#t "or hi$ o% cre(it o ly7 '*t $ho*l( he h!)e ,i)e it "or the !cco* t o" the #!rt er$hi# cre(it+ the !&o* t $h!ll 'e "*lly !##lie( to the l!tter. The #ro)i$io $ o" thi$ !rticle !re * (er$too( to 'e %itho*t #re2*(ice to the ri,ht ,r! te( to the other (e'tor 'y Article 14/4+ '*t o ly i" the #er$o !l cre(it o" the #!rt er $ho*l( 'e &ore o ero*$ to hi&. .16190 Art. 1758. A #!rt er %ho h!$ recei)e(+ i %hole or i #!rt+ hi$ $h!re o" ! #!rt er$hi# cre(it+ %he the other #!rt er$ h!)e ot collecte( their$+ $h!ll 'e o'li,e(+ i" the (e'tor $ho*l( there!"ter 'eco&e i $ol)e t+ to 'ri , to the #!rt er$hi# c!#it!l %h!t he recei)e( e)e tho*,h he &!y h!)e ,i)e recei#t "or hi$ $h!re o ly.
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Art. 1759. E)ery #!rt er i$ re$#o $i'le to the #!rt er$hi# "or (!&!,e$ $*""ere( 'y it thro*,h hi$ "!*lt+ ! ( he c! ot co&#e $!te the& %ith the #ro"it$ ! ( 'e e"it$ %hich he &!y h!)e e!r e( "or the #!rt er$hi# 'y hi$ i (*$try. Ho%e)er+ the co*rt$ &!y e3*it!'ly le$$e thi$ re$#o $i'ility i" thro*,h the #!rt erA$ e-tr!or(i !ry e""ort$ i other !cti)itie$ o" the #!rt er$hi#+ * *$*!l #ro"it$ h!)e 'ee re!li@e(. .1616!0 Art. 175/. The ri$= o" $#eci"ic ! ( (eter&i !te thi ,$+ %hich !re ot "* ,i'le+ co tri'*te( to the #!rt er$hi# $o th!t o ly their *$e ! ( "r*it$ &!y 'e "or the co&&o 'e e"it+ $h!ll 'e 'or e 'y the #!rt er %ho o% $ the&. I" the thi ,$ co tri'*te !re "* ,i'le+ or c! ot 'e =e#t %itho*t (eterior!ti ,+ or i" they %ere co tri'*te( to 'e $ol(+ the ri$= $h!ll 'e 'or e 'y the #!rt er$hi#. I the !'$e ce o" $ti#*l!tio + the ri$= o" the thi ,$ 'ro*,ht ! ( !##r!i$e( i the i )e tory+ $h!ll !l$o 'e 'or e 'y the #!rt er$hi#+ ! ( i $*ch c!$e the cl!i& $h!ll 'e li&ite( to the )!l*e !t %hich they %ere !##r!i$e(. .16170 Art. 1756. The #!rt er$hi# $h!ll 'e re$#o $i'le to e)ery #!rt er "or the !&o* t$ he &!y h!)e (i$'*r$e( o 'eh!l" o" the #!rt er$hi# ! ( "or the corre$#o (i , i tere$t+ "ro& the ti&e the e-#e $e !re &!(e7 it $h!ll !l$o ! $%er to e!ch #!rt er "or the o'li,!tio $ he &!y h!)e co tr!cte( i ,oo( "!ith i the i tere$t o" the #!rt er$hi# '*$i e$$+ ! ( "or ri$=$ i co $e3*e ce o" it$ &! !,e&e t. .1611!0 Art. 1757. The lo$$e$ ! ( #ro"it$ $h!ll 'e (i$tri'*te( i co "or&ity %ith the !,ree&e t. I" o ly the $h!re o" e!ch #!rt er i the #ro"it$ h!$ 'ee !,ree( *#o + the $h!re o" e!ch i the lo$$e$ $h!ll 'e i the $!&e #ro#ortio . I the !'$e ce o" $ti#*l!tio + the $h!re o" e!ch #!rt er i the #ro"it$ ! ( lo$$e$ $h!ll 'e i #ro#ortio to %h!t he &!y h!)e co tri'*te(+ '*t the i (*$tri!l #!rt er $h!ll ot 'e li!'le "or the lo$$e$. A$ "or the #ro"it$+ the i (*$tri!l #!rt er $h!ll recei)e $*ch $h!re !$ &!y 'e 2*$t ! ( e3*it!'le * (er the circ*&$t! ce$. I" 'e$i(e$ hi$ $er)ice$ he h!$ co tri'*te( c!#it!l+ he $h!ll !l$o recei)e ! $h!re i the #ro"it$ i #ro#ortio to hi$ c!#it!l. .1615!0 Art. 1751. I" the #!rt er$ h!)e !,ree( to i tr*$t to ! thir( #er$o the (e$i, !tio o" the $h!re o" e!ch o e i the #ro"it$ ! ( lo$$e$+ $*ch (e$i, !tio &!y 'e i&#*, e( o ly %he it i$ &! i"e$tly i e3*it!'le. I o c!$e &!y ! #!rt er %ho h!$ 'e,* to e-ec*te the (eci$io o" the thir( #er$o + or %ho h!$ ot i&#*, e( the $!&e %ithi ! #erio( o" three &o th$ "ro& the ti&e he h!( = o%le(,e thereo"+ co&#l!i o" $*ch (eci$io . The (e$i, !tio o" lo$$e$ ! ( #ro"it$ c! ot 'e i tr*$te( to o e o" the #!rt er$. .165:0

Art. 1755. A $ti#*l!tio %hich e-cl*(e$ o e or &ore #!rt er$ "ro& ! y $h!re i the #ro"it$ or lo$$e$ i$ )oi(. .16510 Art. 11::. The #!rt er %ho h!$ 'ee !##oi te( &! !,er i the !rticle$ o" #!rt er$hi# &!y e-ec*te !ll !ct$ o" !(&i i$tr!tio (e$#ite the o##o$itio o" hi$ #!rt er$+ * le$$ he $ho*l( !ct i '!( "!ith7 ! ( hi$ #o%er i$ irre)oc!'le %itho*t 2*$t or l!%"*l c!*$e. The )ote o" the #!rt er$ re#re$e ti , the co trolli , i tere$t $h!ll 'e ece$$!ry "or $*ch re)oc!tio o" #o%er. A #o%er ,r! te( !"ter the #!rt er$hi# h!$ 'ee co $tit*te( &!y 'e re)o=e( !t ! y ti&e. .1654!0 Art. 11:1. I" t%o or &ore #!rt er$ h!)e 'ee i tr*$te( %ith the &! !,e&e t o" the #!rt er$hi# %itho*t $#eci"ic!tio o" their re$#ecti)e (*tie$+ or %itho*t ! $ti#*l!tio th!t o e o" the& $h!ll ot !ct %itho*t the co $e t o" !ll the other$+ e!ch o e &!y $e#!r!tely e-ec*te !ll !ct$ o" !(&i i$tr!tio + '*t i" ! y o" the& $ho*l( o##o$e the !ct$ o" the other$+ the (eci$io o" the &!2ority $h!ll #re)!il. I c!$e o" ! tie+ the &!tter $h!ll 'e (eci(e( 'y the #!rt er$ o% i , the co trolli , i tere$t. .1658!0 Art. 11:4. I c!$e it $ho*l( h!)e 'ee $ti#*l!te( th!t o e o" the &! !,i , #!rt er$ $h!ll !ct %itho*t the co $e t o" the other$+ the co c*rre ce o" !ll $h!ll 'e ece$$!ry "or the )!li(ity o" the !ct$+ ! ( the !'$e ce or (i$!'ility o" ! y o e o" the& c! ot 'e !lle,e(+ * le$$ there i$ i&&i e t (! ,er o" ,r!)e or irre#!r!'le i 2*ry to the #!rt er$hi#. .16590 Art. 11:8. ;he the &! er o" &! !,e&e t h!$ ot 'ee !,ree( *#o + the "ollo%i , r*le$ $h!ll 'e o'$er)e(6 .10 All the #!rt er$ $h!ll 'e co $i(ere( !,e t$ ! ( %h!te)er ! y o e o" the& &!y (o !lo e $h!ll 'i ( the #!rt er$hi#+ %itho*t #re2*(ice to the #ro)i$io $ o" Article 11:1. .40 No e o" the #!rt er$ &!y+ %itho*t the co $e t o" the other$+ &!=e ! y i&#ort! t !lter!tio i the i&&o)!'le #ro#erty o" the #!rt er$hi#+ e)e i" it &!y 'e *$e"*l to the #!rt er$hi#. B*t i" the re"*$!l o" co $e t 'y the other #!rt er$ i$ &! i"e$tly #re2*(ici!l to the i tere$t o" the #!rt er$hi#+ the co*rtA$ i ter)e tio &!y 'e $o*,ht. .165/!0 Art. 11:9. E)ery #!rt er &!y !$$oci!te ! other #er$o %ith hi& i hi$ $h!re+ '*t the !$$oci!te $h!ll ot 'e !(&itte( i to the #!rt er$hi# %itho*t the co $e t o" !ll the other #!rt er$+ e)e i" the #!rt er h!)i , ! !$$oci!te $ho*l( 'e ! &! !,er. .16560 Art. 11:/. The #!rt er$hi# 'oo=$ $h!ll 'e =e#t+ $*'2ect to ! y !,ree&e t 'et%ee the #!rt er$+ !t the #ri ci#!l #l!ce o" '*$i e$$ o" the #!rt er$hi#+ ! ( e)ery #!rt er $h!ll !t ! y re!$o !'le ho*r h!)e !cce$$ to ! ( &!y i $#ect ! ( co#y ! y o" the&.
. 0

Art. 11:6. P!rt er$ $h!ll re (er o (e&! ( tr*e ! ( "*ll i "or&!tio o" !ll thi ,$ !""ecti , the #!rt er$hi# to ! y #!rt er or the le,!l re#re$e t!ti)e o" ! y (ece!$e( #!rt er or o" ! y #!rt er * (er le,!l (i$!'ility. . 0 Art. 11:7. E)ery #!rt er &*$t !cco* t to the #!rt er$hi# "or ! y 'e e"it+ ! ( hol( !$ tr*$tee "or it ! y #ro"it$ (eri)e( 'y hi& %itho*t the co $e t o" the other #!rt er$ "ro& ! y tr! $!ctio co ecte( %ith the "or&!tio + co (*ct+ or li3*i(!tio o" the #!rt er$hi# or "ro& ! y *$e 'y hi& o" it$ #ro#erty. . 0

Art. 11:1. The c!#it!li$t #!rt er$ c! ot e ,!,e "or their o% !cco* t i ! y o#er!tio %hich i$ o" the =i ( o" '*$i e$$ i %hich the #!rt er$hi# i$ e ,!,e(+ * le$$ there i$ ! $ti#*l!tio to the co tr!ry. A y c!#it!li$t #!rt er )iol!ti , thi$ #rohi'itio $h!ll 'ri , to the co&&o "* ($ ! y #ro"it$ !ccr*i , to hi& "ro& hi$ tr! $!ctio $+ ! ( $h!ll #er$o !lly 'e!r !ll the lo$$e$. . 0 Art. 11:5. A y #!rt er $h!ll h!)e the ri,ht to ! "or&!l !cco* t !$ to #!rt er$hi# !""!ir$6 .10 I" he i$ %ro ,"*lly e-cl*(e( "ro& the #!rt er$hi# '*$i e$$ or #o$$e$$io o" it$ #ro#erty 'y hi$ co-#!rt er$7 .40 I" the ri,ht e-i$t$ * (er the ter&$ o" ! y !,ree&e t7 .80 A$ #ro)i(e( 'y !rticle 11:77 .90 ;he e)er other circ*&$t! ce$ re (er it 2*$t ! ( re!$o !'le. . SECTION 4. - Pro#erty Ri,ht$ o" ! P!rt er Art. 111:. The #ro#erty ri,ht$ o" ! #!rt er !re6 .10 Hi$ ri,ht$ i $#eci"ic #!rt er$hi# #ro#erty7 .40 Hi$ i tere$t i the #!rt er$hi#7 ! ( .80 Hi$ ri,ht to #!rtici#!te i the &! !,e&e t. .
0 0

Art. 1111. A #!rt er i$ co-o% er %ith hi$ #!rt er$ o" $#eci"ic #!rt er$hi# #ro#erty. The i ci(e t$ o" thi$ co-o% er$hi# !re $*ch th!t6 .10 A #!rt er+ $*'2ect to the #ro)i$io $ o" thi$ Title ! ( to ! y !,ree&e t 'et%ee the #!rt er$+ h!$ ! e3*!l ri,ht %ith hi$ #!rt er$ to #o$$e$$ $#eci"ic #!rt er$hi# #ro#erty "or #!rt er$hi# #*r#o$e$7 '*t he h!$ o ri,ht to #o$$e$$ $*ch #ro#erty "or ! y other #*r#o$e %itho*t the co $e t o" hi$ #!rt er$7 .40 A #!rt erA$ ri,ht i $#eci"ic #!rt er$hi# #ro#erty i$ ot !$$i, !'le e-ce#t i co ectio %ith the !$$i, &e t o" ri,ht$ o" !ll the #!rt er$ i the $!&e #ro#erty7 .80 A #!rt erA$ ri,ht i $#eci"ic #!rt er$hi# #ro#erty i$ ot $*'2ect to !tt!ch&e t or e-ec*tio + e-ce#t o ! cl!i& !,!i $t the #!rt er$hi#. ;he #!rt er$hi# #ro#erty i$ !tt!che( "or ! #!rt er$hi# (e't the #!rt er$+ or ! y o" the&+ or the re#re$e t!ti)e$ o" ! (ece!$e( #!rt er+ c! ot cl!i& ! y ri,ht * (er the ho&e$te!( or e-e&#tio l!%$7 .90 A #!rt erA$ ri,ht i $#eci"ic #!rt er$hi# #ro#erty i$ ot $*'2ect to le,!l $*##ort * (er Article 451. . 0 Art. 1114. A #!rt erA$ i tere$t i the #!rt er$hi# i$ hi$ $h!re o" the #ro"it$ ! ( $*r#l*$. . 0 Art. 1118. A co )ey! ce 'y ! #!rt er o" hi$ %hole i tere$t i the #!rt er$hi# (oe$ ot o" it$el" (i$$ol)e the #!rt er$hi#+ or+ !$ !,!i $t the other #!rt er$ i the !'$e ce

o" !,ree&e t+ e title the !$$i, ee+ (*ri , the co ti *! ce o" the #!rt er$hi#+ to i ter"ere i the &! !,e&e t or !(&i i$tr!tio o" the #!rt er$hi# '*$i e$$ or !""!ir$+ or to re3*ire ! y i "or&!tio or !cco* t o" #!rt er$hi# tr! $!ctio $+ or to i $#ect the #!rt er$hi# 'oo=$7 '*t it &erely e title$ the !$$i, ee to recei)e i !ccor(! ce %ith hi$ co tr!ct the #ro"it$ to %hich the !$$i, i , #!rt er %o*l( other%i$e 'e e title(. Ho%e)er+ i c!$e o" "r!*( i the &! !,e&e t o" the #!rt er$hi#+ the !$$i, ee &!y !)!il hi&$el" o" the *$*!l re&e(ie$. I c!$e o" ! (i$$ol*tio o" the #!rt er$hi#+ the !$$i, ee i$ e title( to recei)e hi$ !$$i, orA$ i tere$t ! ( &!y re3*ire ! !cco* t "ro& the (!te o ly o" the l!$t !cco* t !,ree( to 'y !ll the #!rt er$. . 0 Art. 1119. ;itho*t #re2*(ice to the #re"erre( ri,ht$ o" #!rt er$hi# cre(itor$ * (er Article 1147+ o (*e !##lic!tio to ! co&#ete t co*rt 'y ! y 2*(,&e t cre(itor o" ! #!rt er+ the co*rt %hich e tere( the 2*(,&e t+ or ! y other co*rt+ &!y ch!r,e the i tere$t o" the (e'tor #!rt er %ith #!y&e t o" the * $!ti$"ie( !&o* t o" $*ch 2*(,&e t (e't %ith i tere$t thereo 7 ! ( &!y the or l!ter !##oi t ! recei)er o" hi$ $h!re o" the #ro"it$+ ! ( o" ! y other &o ey (*e or to "!ll (*e to hi& i re$#ect o" the #!rt er$hi#+ ! ( &!=e !ll other or(er$+ (irectio $+ !cco* t$ ! ( i 3*irie$ %hich the (e'tor #!rt er &i,ht h!)e &!(e+ or %hich the circ*&$t! ce$ o" the c!$e &!y re3*ire. The i tere$t ch!r,e( &!y 'e re(ee&e( !t ! y ti&e 'e"ore "oreclo$*re+ or i c!$e o" ! $!le 'ei , (irecte( 'y the co*rt+ &!y 'e #*rch!$e( %itho*t there'y c!*$i , ! (i$$ol*tio 6 .10 ;ith $e#!r!te #ro#erty+ 'y ! y o e or &ore o" the #!rt er$7 or .40 ;ith #!rt er$hi# #ro#erty+ 'y ! y o e or &ore o" the #!rt er$ %ith the co $e t o" !ll the #!rt er$ %ho$e i tere$t$ !re ot $o ch!r,e( or $ol(. Nothi , i thi$ Title $h!ll 'e hel( to (e#ri)e ! #!rt er o" hi$ ri,ht+ i" ! y+ * (er the e-e&#tio l!%$+ !$ re,!r($ hi$ i tere$t i the #!rt er$hi#. . 0 SECTION 8. - O'li,!tio $ o" the P!rt er$ ;ith Re,!r( to Thir( Per$o $ Art. 111/. E)ery #!rt er$hi# $h!ll o#er!te * (er ! "ir& !&e+ %hich &!y or &!y ot i cl*(e the !&e o" o e or &ore o" the #!rt er$. Tho$e %ho+ ot 'ei , &e&'er$ o" the #!rt er$hi#+ i cl*(e their !&e$ i the "ir& !&e+ $h!ll 'e $*'2ect to the li!'ility o" ! #!rt er. . 0 Art. 1116. All #!rt er$+ i cl*(i , i (*$tri!l o e$+ $h!ll 'e li!'le #ro r!t! %ith !ll their #ro#erty ! ( !"ter !ll the #!rt er$hi# !$$et$ h!)e 'ee e-h!*$te(+ "or the co tr!ct$ %hich &!y 'e e tere( i to i the !&e ! ( "or the !cco* t o" the #!rt er$hi#+ * (er it$ $i, !t*re ! ( 'y ! #er$o !*thori@e( to !ct "or the #!rt er$hi#. Ho%e)er+ ! y #!rt er &!y e ter i to ! $e#!r!te o'li,!tio to #er"or& ! #!rt er$hi# co tr!ct. . 0 Art. 1117. A y $ti#*l!tio !,!i $t the li!'ility l!i( (o% i the #rece(i , !rticle $h!ll 'e )oi(+ e-ce#t !$ !&o , the #!rt er$. . 0 Art. 1111. E)ery #!rt er i$ ! !,e t o" the #!rt er$hi# "or the #*r#o$e o" it$ '*$i e$$+ ! ( the !ct o" e)ery #!rt er+ i cl*(i , the e-ec*tio i the #!rt er$hi# !&e o" ! y i $tr*&e t+ "or !##!re tly c!rryi , o i the *$*!l %!y the '*$i e$$ o" the #!rt er$hi# o" %hich he i$ ! &e&'er 'i ($ the #!rt er$hi#+ * le$$ the #!rt er

$o !cti , h!$ i "!ct o !*thority to !ct "or the #!rt er$hi# i the #!rtic*l!r &!tter+ ! ( the #er$o %ith %ho& he i$ (e!li , h!$ = o%le(,e o" the "!ct th!t he h!$ o $*ch !*thority. A !ct o" ! #!rt er %hich i$ ot !##!re tly "or the c!rryi , o o" '*$i e$$ o" the #!rt er$hi# i the *$*!l %!y (oe$ ot 'i ( the #!rt er$hi# * le$$ !*thori@e( 'y the other #!rt er$. E-ce#t %he !*thori@e( 'y the other #!rt er$ or * le$$ they h!)e !'! (o e( the '*$i e$$+ o e or &ore '*t le$$ th! !ll the #!rt er$ h!)e o !*thority to6 .10 A$$i, the #!rt er$hi# #ro#erty i tr*$t "or cre(itor$ or o the !$$i, eeA$ #ro&i$e to #!y the (e't$ o" the #!rt er$hi#7 .40 Bi$#o$e o" the ,oo(-%ill o" the '*$i e$$7 .80 Bo ! y other !ct %hich %o*l( &!=e it i&#o$$i'le to c!rry o the or(i !ry '*$i e$$ o" ! #!rt er$hi#7 .90 Co "e$$ ! 2*(,&e t7 ./0 E ter i to ! co&#ro&i$e co cer i , ! #!rt er$hi# cl!i& or li!'ility7 .60 S*'&it ! #!rt er$hi# cl!i& or li!'ility to !r'itr!tio 7 .70 Re o* ce ! cl!i& o" the #!rt er$hi#. No !ct o" ! #!rt er i co tr!)e tio o" ! re$trictio o !*thority $h!ll 'i ( the #!rt er$hi# to #er$o $ h!)i , = o%le(,e o" the re$trictio . . 0 Art. 1115. ;here title to re!l #ro#erty i$ i the #!rt er$hi# !&e+ ! y #!rt er &!y co )ey title to $*ch #ro#erty 'y ! co )ey! ce e-ec*te( i the #!rt er$hi# !&e7 '*t the #!rt er$hi# &!y reco)er $*ch #ro#erty * le$$ the #!rt erA$ !ct 'i ($ the #!rt er$hi# * (er the #ro)i$io $ o" the "ir$t #!r!,r!#h o" !rticle 1111+ or * le$$ $*ch #ro#erty h!$ 'ee co )eye( 'y the ,r! tee or ! #er$o cl!i&i , thro*,h $*ch ,r! tee to ! hol(er "or )!l*e %itho*t = o%le(,e th!t the #!rt er+ i &!=i , the co )ey! ce+ h!$ e-cee(e( hi$ !*thority. ;here title to re!l #ro#erty i$ i the !&e o" the #!rt er$hi#+ ! co )ey! ce e-ec*te( 'y ! #!rt er+ i hi$ o% !&e+ #!$$e$ the e3*it!'le i tere$t o" the #!rt er$hi#+ #ro)i(e( the !ct i$ o e %ithi the !*thority o" the #!rt er * (er the #ro)i$io $ o" the "ir$t #!r!,r!#h o" Article 1111. ;here title to re!l #ro#erty i$ i the !&e o" o e or &ore '*t ot !ll the #!rt er$+ ! ( the recor( (oe$ ot (i$clo$e the ri,ht o" the #!rt er$hi#+ the #!rt er$ i %ho$e !&e the title $t! ($ &!y co )ey title to $*ch #ro#erty+ '*t the #!rt er$hi# &!y reco)er $*ch #ro#erty i" the #!rt er$A !ct (oe$ ot 'i ( the #!rt er$hi# * (er the #ro)i$io $ o" the "ir$t #!r!,r!#h o" Article 1111+ * le$$ the #*rch!$er or hi$ !$$i, ee+ i$ ! hol(er "or )!l*e+ %itho*t = o%le(,e. ;here the title to re!l #ro#erty i$ i the !&e o" o e or &ore or !ll the #!rt er$+ or i ! thir( #er$o i tr*$t "or the #!rt er$hi#+ ! co )ey! ce e-ec*te( 'y ! #!rt er i the #!rt er$hi# !&e+ or i hi$ o% !&e+ #!$$e$ the e3*it!'le i tere$t o" the #!rt er$hi#+ #ro)i(e( the !ct i$ o e %ithi the !*thority o" the #!rt er * (er the #ro)i$io $ o" the "ir$t #!r!,r!#h o" Article 1111.

;here the title to re!l #ro#erty i$ i the !&e o" !ll the #!rt er$ ! co )ey! ce e-ec*te( 'y !ll the #!rt er$ #!$$e$ !ll their ri,ht$ i $*ch #ro#erty. . 0 Art. 114:. A !(&i$$io or re#re$e t!tio &!(e 'y ! y #!rt er co cer i , #!rt er$hi# !""!ir$ %ithi the $co#e o" hi$ !*thority i !ccor(! ce %ith thi$ Title i$ e)i(e ce !,!i $t the #!rt er$hi#. . 0 Art. 1141. Notice to ! y #!rt er o" ! y &!tter rel!ti , to #!rt er$hi# !""!ir$+ ! ( the = o%le(,e o" the #!rt er !cti , i the #!rtic*l!r &!tter+ !c3*ire( %hile ! #!rt er or the #re$e t to hi$ &i (+ ! ( the = o%le(,e o" ! y other #!rt er %ho re!$o !'ly co*l( ! ( $ho*l( h!)e co&&* ic!te( it to the !cti , #!rt er+ o#er!te !$ otice to or = o%le(,e o" the #!rt er$hi#+ e-ce#t i the c!$e o" "r!*( o the #!rt er$hi#+ co&&itte( 'y or %ith the co $e t o" th!t #!rt er. . 0 Art. 1144. ;here+ 'y ! y %ro ,"*l !ct or o&i$$io o" ! y #!rt er !cti , i the or(i !ry co*r$e o" the '*$i e$$ o" the #!rt er$hi# or %ith the !*thority o" co#!rt er$+ lo$$ or i 2*ry i$ c!*$e( to ! y #er$o + ot 'ei , ! #!rt er i the #!rt er$hi#+ or ! y #e !lty i$ i c*rre(+ the #!rt er$hi# i$ li!'le there"or to the $!&e e-te t !$ the #!rt er $o !cti , or o&itti , to !ct. . 0 Art. 1148. The #!rt er$hi# i$ 'o* ( to &!=e ,oo( the lo$$6 .10 ;here o e #!rt er !cti , %ithi the $co#e o" hi$ !##!re t !*thority recei)e$ &o ey or #ro#erty o" ! thir( #er$o ! ( &i$!##lie$ it7 ! ( .40 ;here the #!rt er$hi# i the co*r$e o" it$ '*$i e$$ recei)e$ &o ey or #ro#erty o" ! thir( #er$o ! ( the &o ey or #ro#erty $o recei)e( i$ &i$!##lie( 'y ! y #!rt er %hile it i$ i the c*$to(y o" the #!rt er$hi#. . 0 Art. 1149. All #!rt er$ !re li!'le $oli(!rily %ith the #!rt er$hi# "or e)erythi , ch!r,e!'le to the #!rt er$hi# * (er Article$ 1144 ! ( 1148. . 0 Art. 114/. ;he ! #er$o + 'y %or($ $#o=e or %ritte or 'y co (*ct+ re#re$e t$ hi&$el"+ or co $e t$ to ! other re#re$e ti , hi& to ! yo e+ !$ ! #!rt er i ! e-i$ti , #!rt er$hi# or %ith o e or &ore #er$o $ ot !ct*!l #!rt er$+ he i$ li!'le to ! y $*ch #er$o $ to %ho& $*ch re#re$e t!tio h!$ 'ee &!(e+ %ho h!$+ o the "!ith o" $*ch re#re$e t!tio + ,i)e cre(it to the !ct*!l or !##!re t #!rt er$hi#+ ! ( i" he h!$ &!(e $*ch re#re$e t!tio or co $e te( to it$ 'ei , &!(e i ! #*'lic &! er he i$ li!'le to $*ch #er$o + %hether the re#re$e t!tio h!$ or h!$ ot 'ee &!(e or co&&* ic!te( to $*ch #er$o $o ,i)i , cre(it 'y or %ith the = o%le(,e o" the !##!re t #!rt er &!=i , the re#re$e t!tio or co $e ti , to it$ 'ei , &!(e6 .10 ;he ! #!rt er$hi# li!'ility re$*lt$+ he i$ li!'le !$ tho*,h he %ere ! !ct*!l &e&'er o" the #!rt er$hi#7 .40 ;he o #!rt er$hi# li!'ility re$*lt$+ he i$ li!'le #ro r!t! %ith the other #er$o $+ i" ! y+ $o co $e ti , to the co tr!ct or re#re$e t!tio !$ to i c*r li!'ility+ other%i$e $e#!r!tely. ;he ! #er$o h!$ 'ee th*$ re#re$e te( to 'e ! #!rt er i ! e-i$ti , #!rt er$hi#+ or %ith o e or &ore #er$o $ ot !ct*!l #!rt er$+ he i$ ! !,e t o" the #er$o $ co $e ti , to $*ch re#re$e t!tio to 'i ( the& to the $!&e e-te t ! ( i the $!&e &! er !$ tho*,h he %ere ! #!rt er i "!ct+ %ith re$#ect to #er$o $ %ho rely *#o the re#re$e t!tio . ;he !ll the &e&'er$ o" the e-i$ti , #!rt er$hi# co $e t to the re#re$e t!tio + ! #!rt er$hi# !ct or o'li,!tio re$*lt$7 '*t i !ll other c!$e$ it i$ the 2oi t !ct or o'li,!tio o" the #er$o !cti , ! ( the #er$o $ co $e ti , to the re#re$e t!tio . . 0

Art. 1146. A #er$o !(&itte( !$ ! #!rt er i to ! e-i$ti , #!rt er$hi# i$ li!'le "or !ll the o'li,!tio $ o" the #!rt er$hi# !ri$i , 'e"ore hi$ !(&i$$io !$ tho*,h he h!( 'ee ! #!rt er %he $*ch o'li,!tio $ %ere i c*rre(+ e-ce#t th!t thi$ li!'ility $h!ll 'e $!ti$"ie( o ly o*t o" #!rt er$hi# #ro#erty+ * le$$ there i$ ! $ti#*l!tio to the co tr!ry. . 0 Art. 1147. The cre(itor$ o" the #!rt er$hi# $h!ll 'e #re"erre( to tho$e o" e!ch #!rt er !$ re,!r($ the #!rt er$hi# #ro#erty. ;itho*t #re2*(ice to thi$ ri,ht+ the #ri)!te cre(itor$ o" e!ch #!rt er &!y !$= the !tt!ch&e t ! ( #*'lic $!le o" the $h!re o" the l!tter i the #!rt er$hi# !$$et$. . 0 CHAPTER 8 BISSOL?TION ANB ;INBING ?P Art. 1141. The (i$$ol*tio o" ! #!rt er$hi# i$ the ch! ,e i the rel!tio o" the #!rt er$ c!*$e( 'y ! y #!rt er ce!$i , to 'e !$$oci!te( i the c!rryi , o !$ (i$ti ,*i$he( "ro& the %i (i , *# o" the '*$i e$$. . 0 Art. 1145. O (i$$ol*tio the #!rt er$hi# i$ ot ter&i !te(+ '*t co ti *e$ * til the %i (i , *# o" #!rt er$hi# !""!ir$ i$ co&#lete(. . 0 Art. 118:. Bi$$ol*tio i$ c!*$e(6 .10 ;itho*t )iol!tio o" the !,ree&e t 'et%ee the #!rt er$6 .!0 By the ter&i !tio o" the (e"i ite ter& or #!rtic*l!r * (ert!=i , $#eci"ie( i the !,ree&e t7 .'0 By the e-#re$$ %ill o" ! y #!rt er+ %ho &*$t !ct i ,oo( "!ith+ %he o (e"i ite ter& or #!rtic*l!r i$ $#eci"ie(7 .c0 By the e-#re$$ %ill o" !ll the #!rt er$ %ho h!)e ot !$$i, e( their i tere$t$ or $*""ere( the& to 'e ch!r,e( "or their $e#!r!te (e't$+ either 'e"ore or !"ter the ter&i !tio o" ! y $#eci"ie( ter& or #!rtic*l!r * (ert!=i ,7 .(0 By the e-#*l$io o" ! y #!rt er "ro& the '*$i e$$ 'o ! "i(e i !ccor(! ce %ith $*ch ! #o%er co "erre( 'y the !,ree&e t 'et%ee the #!rt er$7 .40 I co tr!)e tio o" the !,ree&e t 'et%ee the #!rt er$+ %here the circ*&$t! ce$ (o ot #er&it ! (i$$ol*tio * (er ! y other #ro)i$io o" thi$ !rticle+ 'y the e-#re$$ %ill o" ! y #!rt er !t ! y ti&e7 .80 By ! y e)e t %hich &!=e$ it * l!%"*l "or the '*$i e$$ o" the #!rt er$hi# to 'e c!rrie( o or "or the &e&'er$ to c!rry it o i #!rt er$hi#7 .90 ;he ! $#eci"ic thi , %hich ! #!rt er h!( #ro&i$e( to co tri'*te to the #!rt er$hi#+ #eri$he$ 'e"ore the (eli)ery7 i ! y c!$e 'y the lo$$ o" the thi ,+ %he the #!rt er %ho co tri'*te( it h!)i , re$er)e( the o% er$hi# thereo"+ h!$ o ly tr! $"erre( to the #!rt er$hi# the *$e or e 2oy&e t o" the $!&e7 '*t the #!rt er$hi# $h!ll ot 'e (i$$ol)e( 'y the lo$$ o" the thi , %he it occ*r$ !"ter the #!rt er$hi# h!$ !c3*ire( the o% er$hi# thereo"7 ./0 By the (e!th o" ! y #!rt er7

.60 By the i $ol)e cy o" ! y #!rt er or o" the #!rt er$hi#7 .70 By the ci)il i ter(ictio o" ! y #!rt er7 .10 By (ecree o" co*rt * (er the "ollo%i , !rticle. .17::! !
( 17:1!0

Art. 1181. O !##lic!tio 'y or "or ! #!rt er the co*rt $h!ll (ecree ! (i$$ol*tio %he e)er6 .10 A #!rt er h!$ 'ee (ecl!re( i $! e i ! y 2*(ici!l #rocee(i , or i$ $ho% to 'e o" * $o* ( &i (7 .40 A #!rt er 'eco&e$ i ! y other %!y i c!#!'le o" #er"or&i , hi$ #!rt o" the #!rt er$hi# co tr!ct7 .80 A #!rt er h!$ 'ee ,*ilty o" $*ch co (*ct !$ te ($ to !""ect #re2*(ici!lly the c!rryi , o o" the '*$i e$$7 .90 A #!rt er %il"*lly or #er$i$te tly co&&it$ ! 're!ch o" the #!rt er$hi# !,ree&e t+ or other%i$e $o co (*ct$ hi&$el" i &!tter$ rel!ti , to the #!rt er$hi# '*$i e$$ th!t it i$ ot re!$o !'ly #r!ctic!'le to c!rry o the '*$i e$$ i #!rt er$hi# %ith hi&7 ./0 The '*$i e$$ o" the #!rt er$hi# c! o ly 'e c!rrie( o !t ! lo$$7 .60 Other circ*&$t! ce$ re (er ! (i$$ol*tio e3*it!'le. O the !##lic!tio o" the #*rch!$er o" ! #!rt erA$ i tere$t * (er Article 1118 or 11196 .10 A"ter the ter&i !tio o" the $#eci"ie( ter& or #!rtic*l!r * (ert!=i ,7 .40 At ! y ti&e i" the #!rt er$hi# %!$ ! #!rt er$hi# !t %ill %he the i tere$t %!$ !$$i, e( or %he the ch!r,i , or(er %!$ i$$*e(. . 0 Art. 1184. E-ce#t $o "!r !$ &!y 'e ece$$!ry to %i ( *# #!rt er$hi# !""!ir$ or to co&#lete tr! $!ctio $ 'e,* '*t ot the "i i$he(+ (i$$ol*tio ter&i !te$ !ll !*thority o" ! y #!rt er to !ct "or the #!rt er$hi#6 .10 ;ith re$#ect to the #!rt er$6 .!0 ;he the (i$$ol*tio i$ ot 'y the !ct+ i $ol)e cy or (e!th o" ! #!rt er7 or .'0 ;he the (i$$ol*tio i$ 'y $*ch !ct+ i $ol)e cy or (e!th o" ! #!rt er+ i c!$e$ %here !rticle 1188 $o re3*ire$7 .40 ;ith re$#ect to #er$o $ ot #!rt er$+ !$ (ecl!re( i !rticle 1189. . 0 Art. 1188. ;here the (i$$ol*tio i$ c!*$e( 'y the !ct+ (e!th or i $ol)e cy o" ! #!rt er+ e!ch #!rt er i$ li!'le to hi$ co-#!rt er$ "or hi$ $h!re o" ! y li!'ility cre!te( 'y ! y #!rt er !cti , "or the #!rt er$hi# !$ i" the #!rt er$hi# h!( ot 'ee (i$$ol)e( * le$$6 .10 The (i$$ol*tio 'ei , 'y !ct o" ! y #!rt er+ the #!rt er !cti , "or the #!rt er$hi# h!( = o%le(,e o" the (i$$ol*tio 7 or .40 The (i$$ol*tio 'ei , 'y the (e!th or i $ol)e cy o" ! #!rt er+ the #!rt er !cti , "or the #!rt er$hi# h!( = o%le(,e or otice o" the (e!th or i $ol)e cy. Art. 1189. A"ter (i$$ol*tio + ! #!rt er c! 'i ( the #!rt er$hi#+ e-ce#t !$ #ro)i(e( i the thir( #!r!,r!#h o" thi$ !rticle6

.10 By ! y !ct !##ro#ri!te "or %i (i , *# #!rt er$hi# !""!ir$ or co&#leti , tr! $!ctio $ * "i i$he( !t (i$$ol*tio 7 .40 By ! y tr! $!ctio %hich %o*l( 'i ( the #!rt er$hi# i" (i$$ol*tio h!( ot t!=e #l!ce+ #ro)i(e( the other #!rty to the tr! $!ctio 6 .!0 H!( e-te (e( cre(it to the #!rt er$hi# #rior to (i$$ol*tio ! ( h!( o = o%le(,e or otice o" the (i$$ol*tio 7 or .'0 Tho*,h he h!( ot $o e-te (e( cre(it+ h!( e)erthele$$ = o% o" the #!rt er$hi# #rior to (i$$ol*tio + ! (+ h!)i , o = o%le(,e or otice o" (i$$ol*tio + the "!ct o" (i$$ol*tio h!( ot 'ee !()erti$e( i ! e%$#!#er o" ,e er!l circ*l!tio i the #l!ce .or i e!ch #l!ce i" &ore th! o e0 !t %hich the #!rt er$hi# '*$i e$$ %!$ re,*l!rly c!rrie( o . The li!'ility o" ! #!rt er * (er the "ir$t #!r!,r!#h+ No. 4+ $h!ll 'e $!ti$"ie( o*t o" #!rt er$hi# !$$et$ !lo e %he $*ch #!rt er h!( 'ee #rior to (i$$ol*tio 6 .10 ? = o% !$ ! #!rt er to the #er$o %ith %ho& the co tr!ct i$ &!(e7 ! ( .40 So "!r * = o% ! ( i !cti)e i #!rt er$hi# !""!ir$ th!t the '*$i e$$ re#*t!tio o" the #!rt er$hi# co*l( ot 'e $!i( to h!)e 'ee i ! y (e,ree (*e to hi$ co ectio %ith it. The #!rt er$hi# i$ i o c!$e 'o* ( 'y ! y !ct o" ! #!rt er !"ter (i$$ol*tio 6 .10 ;here the #!rt er$hi# i$ (i$$ol)e( 'ec!*$e it i$ * l!%"*l to c!rry o the '*$i e$$+ * le$$ the !ct i$ !##ro#ri!te "or %i (i , *# #!rt er$hi# !""!ir$7 or .40 ;here the #!rt er h!$ 'eco&e i $ol)e t7 or .80 ;here the #!rt er h!$ o !*thority to %i ( *# #!rt er$hi# !""!ir$7 e-ce#t 'y ! tr! $!ctio %ith o e %ho6 .!0 H!( e-te (e( cre(it to the #!rt er$hi# #rior to (i$$ol*tio ! ( h!( o = o%le(,e or otice o" hi$ %! t o" !*thority7 or .'0 H!( ot e-te (e( cre(it to the #!rt er$hi# #rior to (i$$ol*tio + ! (+ h!)i , o = o%le(,e or otice o" hi$ %! t o" !*thority+ the "!ct o" hi$ %! t o" !*thority h!$ ot 'ee !()erti$e( i the &! er #ro)i(e( "or !()erti$i , the "!ct o" (i$$ol*tio i the "ir$t #!r!,r!#h+ No. 4 .'0. Nothi , i thi$ !rticle $h!ll !""ect the li!'ility * (er Article 114/ o" ! y #er$o %ho+ !"ter (i$$ol*tio + re#re$e t$ hi&$el" or co $e t$ to ! other re#re$e ti , hi& !$ ! #!rt er i ! #!rt er$hi# e ,!,e( i c!rryi , '*$i e$$. . 0 Art. 118/. The (i$$ol*tio o" the #!rt er$hi# (oe$ ot o" it$el" (i$ch!r,e the e-i$ti , li!'ility o" ! y #!rt er. A #!rt er i$ (i$ch!r,e( "ro& ! y e-i$ti , li!'ility *#o (i$$ol*tio o" the #!rt er$hi# 'y ! !,ree&e t to th!t e""ect 'et%ee hi&$el"+ the #!rt er$hi# cre(itor ! ( the #er$o or #!rt er$hi# co ti *i , the '*$i e$$7 ! ( $*ch !,ree&e t &!y 'e i "erre( "ro& the co*r$e o" (e!li , 'et%ee the cre(itor h!)i , = o%le(,e o" the (i$$ol*tio ! ( the #er$o or #!rt er$hi# co ti *i , the '*$i e$$.

The i (i)i(*!l #ro#erty o" ! (ece!$e( #!rt er $h!ll 'e li!'le "or !ll o'li,!tio $ o" the #!rt er$hi# i c*rre( %hile he %!$ ! #!rt er+ '*t $*'2ect to the #rior #!y&e t o" hi$ $e#!r!te (e't$. . 0 Art. 1186. ? le$$ other%i$e !,ree(+ the #!rt er$ %ho h!)e ot %ro ,"*lly (i$$ol)e( the #!rt er$hi# or the le,!l re#re$e t!ti)e o" the l!$t $*r)i)i , #!rt er+ ot i $ol)e t+ h!$ the ri,ht to %i ( *# the #!rt er$hi# !""!ir$+ #ro)i(e(+ ho%e)er+ th!t ! y #!rt er+ hi$ le,!l re#re$e t!ti)e or hi$ !$$i, ee+ *#o c!*$e $ho% + &!y o't!i %i (i , *# 'y the co*rt. . 0 Art. 1187. ;he (i$$ol*tio i$ c!*$e( i ! y %!y+ e-ce#t i co tr!)e tio o" the #!rt er$hi# !,ree&e t+ e!ch #!rt er+ !$ !,!i $t hi$ co-#!rt er$ ! ( !ll #er$o $ cl!i&i , thro*,h the& i re$#ect o" their i tere$t$ i the #!rt er$hi#+ * le$$ other%i$e !,ree(+ &!y h!)e the #!rt er$hi# #ro#erty !##lie( to (i$ch!r,e it$ li!'ilitie$+ ! ( the $*r#l*$ !##lie( to #!y i c!$h the et !&o* t o%i , to the re$#ecti)e #!rt er$. B*t i" (i$$ol*tio i$ c!*$e( 'y e-#*l$io o" ! #!rt er+ 'o ! "i(e * (er the #!rt er$hi# !,ree&e t ! ( i" the e-#elle( #!rt er i$ (i$ch!r,e( "ro& !ll #!rt er$hi# li!'ilitie$+ either 'y #!y&e t or !,ree&e t * (er the $eco ( #!r!,r!#h o" Article 118/+ he $h!ll recei)e i c!$h o ly the et !&o* t (*e hi& "ro& the #!rt er$hi#. ;he (i$$ol*tio i$ c!*$e( i co tr!)e tio o" the #!rt er$hi# !,ree&e t the ri,ht$ o" the #!rt er$ $h!ll 'e !$ "ollo%$6 .10 E!ch #!rt er %ho h!$ ot c!*$e( (i$$ol*tio %ro ,"*lly $h!ll h!)e6 .!0 All the ri,ht$ $#eci"ie( i the "ir$t #!r!,r!#h o" thi$ !rticle+ ! ( .'0 The ri,ht+ !$ !,!i $t e!ch #!rt er %ho h!$ c!*$e( the (i$$ol*tio %ro ,"*lly+ to (!&!,e$ 're!ch o" the !,ree&e t. .40 The #!rt er$ %ho h!)e ot c!*$e( the (i$$ol*tio %ro ,"*lly+ i" they !ll (e$ire to co ti *e the '*$i e$$ i the $!&e !&e either 'y the&$el)e$ or 2oi tly %ith other$+ &!y (o $o+ (*ri , the !,ree( ter& "or the #!rt er$hi# ! ( "or th!t #*r#o$e &!y #o$$e$$ the #!rt er$hi# #ro#erty+ #ro)i(e( they $ec*re the #!y&e t 'y 'o ( !##ro)e( 'y the co*rt+ or #!y ! y #!rt er %ho h!$ c!*$e( the (i$$ol*tio %ro ,"*lly+ the )!l*e o" hi$ i tere$t i the #!rt er$hi# !t the (i$$ol*tio + le$$ ! y (!&!,e$ reco)er!'le * (er the $eco ( #!r!,r!#h+ No. 1 .'0 o" thi$ !rticle+ ! ( i li=e &! er i (e& i"y hi& !,!i $t !ll #re$e t or "*t*re #!rt er$hi# li!'ilitie$. .80 A #!rt er %ho h!$ c!*$e( the (i$$ol*tio %ro ,"*lly $h!ll h!)e6 .!0 I" the '*$i e$$ i$ ot co ti *e( * (er the #ro)i$io $ o" the $eco ( #!r!,r!#h+ No. 4+ !ll the ri,ht$ o" ! #!rt er * (er the "ir$t #!r!,r!#h+ $*'2ect to li!'ility "or (!&!,e$ i the $eco ( #!r!,r!#h+ No. 1 .'0+ o" thi$ !rticle. .'0 I" the '*$i e$$ i$ co ti *e( * (er the $eco ( #!r!,r!#h+ No. 4+ o" thi$ !rticle+ the ri,ht !$ !,!i $t hi$ co-#!rt er$ ! ( !ll cl!i&i , thro*,h the& i re$#ect o" their i tere$t$ i the #!rt er$hi#+ to h!)e the )!l*e o" hi$ i tere$t i the #!rt er$hi#+ le$$ ! y (!&!,e c!*$e( to hi$ co-#!rt er$ 'y the (i$$ol*tio + !$cert!i e( ! ( #!i( to hi& i c!$h+ or the #!y&e t $ec*re( 'y ! 'o ( !##ro)e( 'y the co*rt+ ! ( to 'e rele!$e( "ro& !ll e-i$ti , li!'ilitie$ o" the #!rt er$hi#7 '*t i

!$cert!i i , the )!l*e o" the #!rt erA$ i tere$t the )!l*e o" the ,oo(%ill o" the '*$i e$$ $h!ll ot 'e co $i(ere(. . 0 Art. 1181. ;here ! #!rt er$hi# co tr!ct i$ re$ci (e( o the ,ro* ( o" the "r!*( or &i$re#re$e t!tio o" o e o" the #!rtie$ thereto+ the #!rty e title( to re$ci ( i$+ %itho*t #re2*(ice to ! y other ri,ht+ e title(6 .10 To ! lie o + or ri,ht o" rete tio o"+ the $*r#l*$ o" the #!rt er$hi# #ro#erty !"ter $!ti$"yi , the #!rt er$hi# li!'ilitie$ to thir( #er$o $ "or ! y $*& o" &o ey #!i( 'y hi& "or the #*rch!$e o" ! i tere$t i the #!rt er$hi# ! ( "or ! y c!#it!l or !()! ce$ co tri'*te( 'y hi&7 .40 To $t! (+ !"ter !ll li!'ilitie$ to thir( #er$o $ h!)e 'ee $!ti$"ie(+ i the #l!ce o" the cre(itor$ o" the #!rt er$hi# "or ! y #!y&e t$ &!(e 'y hi& i re$#ect o" the #!rt er$hi# li!'ilitie$7 ! ( .80 To 'e i (e& i"ie( 'y the #er$o ,*ilty o" the "r!*( or &!=i , the re#re$e t!tio !,!i $t !ll (e't$ ! ( li!'ilitie$ o" the #!rt er$hi#. . 0 Art. 1185. I $ettli , !cco* t$ 'et%ee the #!rt er$ !"ter (i$$ol*tio + the "ollo%i , r*le$ $h!ll 'e o'$er)e(+ $*'2ect to ! y !,ree&e t to the co tr!ry6 .10 The !$$et$ o" the #!rt er$hi# !re6 .!0 The #!rt er$hi# #ro#erty+ .'0 The co tri'*tio $ o" the #!rt er$ ece$$!ry "or the #!y&e t o" !ll the li!'ilitie$ $#eci"ie( i No. 4. .40 The li!'ilitie$ o" the #!rt er$hi# $h!ll r! = i or(er o" #!y&e t+ !$ "ollo%$6 .!0 Tho$e o%i , to cre(itor$ other th! #!rt er$+ .'0 Tho$e o%i , to #!rt er$ other th! "or c!#it!l ! ( #ro"it$+ .c0 Tho$e o%i , to #!rt er$ i re$#ect o" c!#it!l+ .(0 Tho$e o%i , to #!rt er$ i re$#ect o" #ro"it$. .80 The !$$et$ $h!ll 'e !##lie( i the or(er o" their (ecl!r!tio i No. 1 o" thi$ !rticle to the $!ti$"!ctio o" the li!'ilitie$. .90 The #!rt er$ $h!ll co tri'*te+ !$ #ro)i(e( 'y !rticle 1757+ the !&o* t ece$$!ry to $!ti$"y the li!'ilitie$. ./0 A !$$i, ee "or the 'e e"it o" cre(itor$ or ! y #er$o !##oi te( 'y the co*rt $h!ll h!)e the ri,ht to e "orce the co tri'*tio $ $#eci"ie( i the #rece(i , *&'er. .60 A y #!rt er or hi$ le,!l re#re$e t!ti)e $h!ll h!)e the ri,ht to e "orce the co tri'*tio $ $#eci"ie( i No. 9+ to the e-te t o" the !&o* t %hich he h!$ #!i( i e-ce$$ o" hi$ $h!re o" the li!'ility. .70 The i (i)i(*!l #ro#erty o" ! (ece!$e( #!rt er $h!ll 'e li!'le "or the co tri'*tio $ $#eci"ie( i No. 9. .10 ;he #!rt er$hi# #ro#erty ! ( the i (i)i(*!l #ro#ertie$ o" the #!rt er$ !re i #o$$e$$io o" ! co*rt "or (i$tri'*tio + #!rt er$hi# cre(itor$ $h!ll h!)e

#riority o #!rt er$hi# #ro#erty ! ( $e#!r!te cre(itor$ o i (i)i(*!l #ro#erty+ $!)i , the ri,ht$ o" lie or $ec*re( cre(itor$. .50 ;here ! #!rt er h!$ 'eco&e i $ol)e t or hi$ e$t!te i$ i $ol)e t+ the cl!i&$ !,!i $t hi$ $e#!r!te #ro#erty $h!ll r! = i the "ollo%i , or(er6 .!0 Tho$e o%i , to $e#!r!te cre(itor$7 .'0 Tho$e o%i , to #!rt er$hi# cre(itor$7 .c0 Tho$e o%i , to #!rt er$ 'y %!y o" co tri'*tio . .
0

Art. 119:. I the "ollo%i , c!$e$ cre(itor$ o" the (i$$ol)e( #!rt er$hi# !re !l$o cre(itor$ o" the #er$o or #!rt er$hi# co ti *i , the '*$i e$$6 .10 ;he ! y e% #!rt er i$ !(&itte( i to ! e-i$ti , #!rt er$hi#+ or %he ! y #!rt er retire$ ! ( !$$i, $ .or the re#re$e t!ti)e o" the (ece!$e( #!rt er !$$i, $0 hi$ ri,ht$ i #!rt er$hi# #ro#erty to t%o or &ore o" the #!rt er$+ or to o e or &ore o" the #!rt er$ ! ( o e or &ore thir( #er$o $+ i" the '*$i e$$ i$ co ti *e( %itho*t li3*i(!tio o" the #!rt er$hi# !""!ir$7 .40 ;he !ll '*t o e #!rt er retire ! ( !$$i, .or the re#re$e t!ti)e o" ! (ece!$e( #!rt er !$$i, $0 their ri,ht$ i #!rt er$hi# #ro#erty to the re&!i i , #!rt er+ %ho co ti *e$ the '*$i e$$ %itho*t li3*i(!tio o" #!rt er$hi# !""!ir$+ either !lo e or %ith other$7 .80 ;he ! y #!rt er retire$ or (ie$ ! ( the '*$i e$$ o" the (i$$ol)e( #!rt er$hi# i$ co ti *e( !$ $et "orth i No$. 1 ! ( 4 o" thi$ !rticle+ %ith the co $e t o" the retire( #!rt er$ or the re#re$e t!ti)e o" the (ece!$e( #!rt er+ '*t %itho*t ! y !$$i, &e t o" hi$ ri,ht i #!rt er$hi# #ro#erty7 .90 ;he !ll the #!rt er$ or their re#re$e t!ti)e$ !$$i, their ri,ht$ i #!rt er$hi# #ro#erty to o e or &ore thir( #er$o $ %ho #ro&i$e to #!y the (e't$ ! ( %ho co ti *e the '*$i e$$ o" the (i$$ol)e( #!rt er$hi#7 ./0 ;he ! y #!rt er %ro ,"*lly c!*$e$ ! (i$$ol*tio ! ( the re&!i i , #!rt er$ co ti *e the '*$i e$$ * (er the #ro)i$io $ o" !rticle 1187+ $eco ( #!r!,r!#h+ No. 4+ either !lo e or %ith other$+ ! ( %itho*t li3*i(!tio o" the #!rt er$hi# !""!ir$7 .60 ;he ! #!rt er i$ e-#elle( ! ( the re&!i i , #!rt er$ co ti *e the '*$i e$$ either !lo e or %ith other$ %itho*t li3*i(!tio o" the #!rt er$hi# !""!ir$. The li!'ility o" ! thir( #er$o 'eco&i , ! #!rt er i the #!rt er$hi# co ti *i , the '*$i e$$+ * (er thi$ !rticle+ to the cre(itor$ o" the (i$$ol)e( #!rt er$hi# $h!ll 'e $!ti$"ie( o*t o" the #!rt er$hi# #ro#erty o ly+ * le$$ there i$ ! $ti#*l!tio to the co tr!ry. ;he the '*$i e$$ o" ! #!rt er$hi# !"ter (i$$ol*tio i$ co ti *e( * (er ! y co (itio $ $et "orth i thi$ !rticle the cre(itor$ o" the (i$$ol)e( #!rt er$hi#+ !$ !,!i $t the $e#!r!te cre(itor$ o" the retiri , or (ece!$e( #!rt er or the re#re$e t!ti)e o" the (ece!$e( #!rt er+ h!)e ! #rior ri,ht to ! y cl!i& o" the retire( #!rt er or the re#re$e t!ti)e o" the (ece!$e( #!rt er !,!i $t the #er$o or #!rt er$hi# co ti *i , the '*$i e$$+ o !cco* t o" the retire( or (ece!$e( #!rt erA$ i tere$t i the (i$$ol)e( #!rt er$hi# or o !cco* t o" ! y co $i(er!tio #ro&i$e( "or $*ch i tere$t or "or hi$ ri,ht i #!rt er$hi# #ro#erty.

Nothi , i thi$ !rticle $h!ll 'e hel( to &o(i"y ! y ri,ht o" cre(itor$ to $et !$i(e ! y !$$i, &e t o the ,ro* ( o" "r!*(. The *$e 'y the #er$o or #!rt er$hi# co ti *i , the '*$i e$$ o" the #!rt er$hi# !&e+ or the !&e o" ! (ece!$e( #!rt er !$ #!rt thereo"+ $h!ll ot o" it$el" &!=e the i (i)i(*!l #ro#erty o" the (ece!$e( #!rt er li!'le "or ! y (e't$ co tr!cte( 'y $*ch #er$o or #!rt er$hi#. . 0 Art. 1191. ;he ! y #!rt er retire$ or (ie$+ ! ( the '*$i e$$ i$ co ti *e( * (er ! y o" the co (itio $ $et "orth i the #rece(i , !rticle+ or i Article 1187+ $eco ( #!r!,r!#h+ No. 4+ %itho*t ! y $ettle&e t o" !cco* t$ !$ 'et%ee hi& or hi$ e$t!te ! ( the #er$o or #!rt er$hi# co ti *i , the '*$i e$$+ * le$$ other%i$e !,ree(+ he or hi$ le,!l re#re$e t!ti)e !$ !,!i $t $*ch #er$o or #!rt er$hi# &!y h!)e the )!l*e o" hi$ i tere$t !t the (!te o" (i$$ol*tio !$cert!i e(+ ! ( $h!ll recei)e !$ ! or(i !ry cre(itor ! !&o* t e3*!l to the )!l*e o" hi$ i tere$t i the (i$$ol)e( #!rt er$hi# %ith i tere$t+ or+ !t hi$ o#tio or !t the o#tio o" hi$ le,!l re#re$e t!ti)e+ i lie* o" i tere$t+ the #ro"it$ !ttri'*t!'le to the *$e o" hi$ ri,ht i the #ro#erty o" the (i$$ol)e( #!rt er$hi#7 #ro)i(e( th!t the cre(itor$ o" the (i$$ol)e( #!rt er$hi# !$ !,!i $t the $e#!r!te cre(itor$+ or the re#re$e t!ti)e o" the retire( or (ece!$e( #!rt er+ $h!ll h!)e #riority o ! y cl!i& !ri$i , * (er thi$ !rticle+ !$ #ro)i(e( Article 119:+ thir( #!r!,r!#h. . 0 Art. 1194. The ri,ht to ! !cco* t o" hi$ i tere$t $h!ll !ccr*e to ! y #!rt er+ or hi$ le,!l re#re$e t!ti)e !$ !,!i $t the %i (i , *# #!rt er$ or the $*r)i)i , #!rt er$ or the #er$o or #!rt er$hi# co ti *i , the '*$i e$$+ !t the (!te o" (i$$ol*tio + i the !'$e ce o" ! y !,ree&e t to the co tr!ry. . 0 CHAPTER 9 LI>ITEB PARTNERSHIP .

Art. 1198. A li&ite( #!rt er$hi# i$ o e "or&e( 'y t%o or &ore #er$o $ * (er the #ro)i$io $ o" the "ollo%i , !rticle+ h!)i , !$ &e&'er$ o e or &ore ,e er!l #!rt er$ ! ( o e or &ore li&ite( #!rt er$. The li&ite( #!rt er$ !$ $*ch $h!ll ot 'e 'o* ( 'y the o'li,!tio $ o" the #!rt er$hi#. Art. 1199. T%o or &ore #er$o $ (e$iri , to "or& ! li&ite( #!rt er$hi# $h!ll6 .10 Si, ! ( $%e!r to ! certi"ic!te+ %hich $h!ll $t!te .!0 The !&e o" the #!rt er$hi#+ !((i , thereto the %or( "Limited"7 .'0 The ch!r!cter o" the '*$i e$$7 .c0 The loc!tio o" the #ri ci#!l #l!ce o" '*$i e$$7 .(0 The !&e ! ( #l!ce o" re$i(e ce o" e!ch &e&'er+ ,e er!l ! ( li&ite( #!rt er$ 'ei , re$#ecti)ely (e$i, !te(7 .e0 The ter& "or %hich the #!rt er$hi# i$ to e-i$t7 ."0 The !&o* t o" c!$h ! ( ! (e$cri#tio o" ! ( the !,ree( )!l*e o" the other #ro#erty co tri'*te( 'y e!ch li&ite( #!rt er7 .,0 The !((itio !l co tri'*tio $+ i" ! y+ to 'e &!(e 'y e!ch li&ite( #!rt er ! ( the ti&e$ !t %hich or e)e t$ o the h!##e i , o" %hich they $h!ll 'e &!(e7

.h0 The ti&e+ i" !,ree( *#o + %he the co tri'*tio o" e!ch li&ite( #!rt er i$ to 'e ret*r e(7 .i0 The $h!re o" the #ro"it$ or the other co&#e $!tio 'y %!y o" i co&e %hich e!ch li&ite( #!rt er $h!ll recei)e 'y re!$o o" hi$ co tri'*tio 7 .20 The ri,ht+ i" ,i)e + o" ! li&ite( #!rt er to $*'$tit*te ! !$$i, ee !$ co tri'*tor i hi$ #l!ce+ ! ( the ter&$ ! ( co (itio $ o" the $*'$tit*tio 7 .=0 The ri,ht+ i" ,i)e + o" the #!rt er$ to !(&it !((itio !l li&ite( #!rt er$7 .l0 The ri,ht+ i" ,i)e + o" o e or &ore o" the li&ite( #!rt er$ to #riority o)er other li&ite( #!rt er$+ !$ to co tri'*tio $ or !$ to co&#e $!tio 'y %!y o" i co&e+ ! ( the !t*re o" $*ch #riority7 .&0 The ri,ht+ i" ,i)e + o" the re&!i i , ,e er!l #!rt er or #!rt er$ to co ti *e the '*$i e$$ o the (e!th+ retire&e t+ ci)il i ter(ictio + i $! ity or i $ol)e cy o" ! ,e er!l #!rt er7 ! ( . 0 The ri,ht+ i" ,i)e + o" ! li&ite( #!rt er to (e&! ( ! ( recei)e #ro#erty other th! c!$h i ret*r "or hi$ co tri'*tio . .40 <ile "or recor( the certi"ic!te i the O""ice o" the Sec*ritie$ ! ( E-ch! ,e Co&&i$$io . A li&ite( #!rt er$hi# i$ "or&e( i" there h!$ 'ee $*'$t! ti!l co&#li! ce i ,oo( "!ith %ith the "ore,oi , re3*ire&e t$. Art. 119/. The co tri'*tio $ o" ! li&ite( #!rt er &!y 'e c!$h or #ro#erty+ '*t ot $er)ice$. Art. 1196. The $*r !&e o" ! li&ite( #!rt er $h!ll ot !##e!r i the #!rt er$hi# !&e * le$$6 .10 It i$ !l$o the $*r !&e o" ! ,e er!l #!rt er+ or .40 Prior to the ti&e %he the li&ite( #!rt er 'ec!&e $*ch+ the '*$i e$$ h!$ 'ee c!rrie( o * (er ! !&e i %hich hi$ $*r !&e !##e!re(. A li&ite( #!rt er %ho$e $*r !&e !##e!r$ i ! #!rt er$hi# !&e co tr!ry to the #ro)i$io $ o" the "ir$t #!r!,r!#h i$ li!'le !$ ! ,e er!l #!rt er to #!rt er$hi# cre(itor$ %ho e-te ( cre(it to the #!rt er$hi# %itho*t !ct*!l = o%le(,e th!t he i$ ot ! ,e er!l #!rt er. Art. 1197. I" the certi"ic!te co t!i $ ! "!l$e $t!te&e t+ o e %ho $*""er$ lo$$ 'y reli! ce o $*ch $t!te&e t &!y hol( li!'le ! y #!rty to the certi"ic!te %ho = e% the $t!te&e t to 'e "!l$e6 .10 At the ti&e he $i, e( the certi"ic!te+ or .40 S*'$e3*e tly+ '*t %ithi ! $*""icie t ti&e 'e"ore the $t!te&e t %!$ relie( *#o to e !'le hi& to c! cel or !&e ( the certi"ic!te+ or to "ile ! #etitio "or it$ c! cell!tio or !&e (&e t !$ #ro)i(e( i Article 116/.

Art. 1191. A li&ite( #!rt er $h!ll ot 'eco&e li!'le !$ ! ,e er!l #!rt er * le$$+ i !((itio to the e-erci$e o" hi$ ri,ht$ ! ( #o%er$ !$ ! li&ite( #!rt er+ he t!=e$ #!rt i the co trol o" the '*$i e$$. Art. 1195. A"ter the "or&!tio o" ! li"te( #!rt er$hi#+ !((itio !l li&ite( #!rt er$ &!y 'e !(&itte( *#o "ili , ! !&e (&e t to the ori,i !l certi"ic!te i !ccor(! ce %ith the re3*ire&e t$ o" Article 116/. Art. 11/:. A ,e er!l #!rt er $h!ll h!)e !ll the ri,ht$ ! ( #o%er$ ! ( 'e $*'2ect to !ll the re$trictio $ ! ( li!'ilitie$ o" ! #!rt er i ! #!rt er$hi# %itho*t li&ite( #!rt er$. Ho%e)er+ %itho*t the %ritte co $e t or r!ti"ic!tio o" the $#eci"ic !ct 'y !ll the li&ite( #!rt er$+ ! ,e er!l #!rt er or !ll o" the ,e er!l #!rt er$ h!)e o !*thority to6 .10 Bo ! y !ct i co tr!)e tio o" the certi"ic!te7 .40 Bo ! y !ct %hich %o*l( &!=e it i&#o$$i'le to c!rry o the or(i !ry '*$i e$$ o" the #!rt er$hi#7 .80 Co "e$$ ! 2*(,&e t !,!i $t the #!rt er$hi#7 .90 Po$$e$$ #!rt er$hi# #ro#erty+ or !$$i, their ri,ht$ i $#eci"ic #!rt er$hi# #ro#erty+ "or other th! ! #!rt er$hi# #*r#o$e7 ./0 A(&it ! #er$o !$ ! ,e er!l #!rt er7 .60 A(&it ! #er$o !$ ! li&ite( #!rt er+ * le$$ the ri,ht $o to (o i$ ,i)e i the certi"ic!te7 .70 Co ti *e the '*$i e$$ %ith #!rt er$hi# #ro#erty o the (e!th+ retire&e t+ i $! ity+ ci)il i ter(ictio or i $ol)e cy o" ! ,e er!l #!rt er+ * le$$ the ri,ht $o to (o i$ ,i)e i the certi"ic!te. Art. 11/1. A li&ite( #!rt er $h!ll h!)e the $!&e ri,ht$ !$ ! ,e er!l #!rt er to6 .10 H!)e the #!rt er$hi# 'oo=$ =e#t !t the #ri ci#!l #l!ce o" '*$i e$$ o" the #!rt er$hi#+ ! ( !t ! re!$o !'le ho*r to i $#ect ! ( co#y ! y o" the&7 .40 H!)e o (e&! ( tr*e ! ( "*ll i "or&!tio o" !ll thi ,$ !""ecti , the #!rt er$hi#+ ! ( ! "or&!l !cco* t o" #!rt er$hi# !""!ir$ %he e)er circ*&$t! ce$ re (er it 2*$t ! ( re!$o !'le7 ! ( .80 H!)e (i$$ol*tio ! ( %i (i , *# 'y (ecree o" co*rt. A li&ite( #!rt er $h!ll h!)e the ri,ht to recei)e ! $h!re o" the #ro"it$ or other co&#e $!tio 'y %!y o" i co&e+ ! ( to the ret*r o" hi$ co tri'*tio !$ #ro)i(e( i Article$ 11/6 ! ( 11/7. Art. 11/4. ;itho*t #re2*(ice to the #ro)i$io $ o" Article 1191+ ! #er$o %ho h!$ co tri'*te( to the c!#it!l o" ! '*$i e$$ co (*cte( 'y ! #er$o or #!rt er$hi# erro eo*$ly 'elie)i , th!t he h!$ 'eco&e ! li&ite( #!rt er i ! li&ite( #!rt er$hi#+ i$ ot+ 'y re!$o o" hi$ e-erci$e o" the ri,ht$ o" ! li&ite( #!rt er+ ! ,e er!l #!rt er %ith the #er$o or i the #!rt er$hi# c!rryi , o the '*$i e$$+ or 'o* ( 'y the o'li,!tio $ o" $*ch #er$o or #!rt er$hi#+ #ro)i(e( th!t o !$cert!i i , the &i$t!=e he #ro&#tly re o* ce$ hi$ i tere$t i the #ro"it$ o" the '*$i e$$+ or other co&#e $!tio 'y %!y o" i co&e.

Art. 11/8. A #er$o &!y 'e ! ,e er!l #!rt er ! ( ! li&ite( #!rt er i the $!&e #!rt er$hi# !t the $!&e ti&e+ #ro)i(e( th!t thi$ "!ct $h!ll 'e $t!te( i the certi"ic!te #ro)i(e( "or i Article 1199. A #er$o %ho i$ ! ,e er!l+ ! ( !l$o !t the $!&e ti&e ! li&ite( #!rt er+ $h!ll h!)e !ll the ri,ht$ ! ( #o%er$ ! ( 'e $*'2ect to !ll the re$trictio $ o" ! ,e er!l #!rt er7 e-ce#t th!t+ i re$#ect to hi$ co tri'*tio + he $h!ll h!)e the ri,ht$ !,!i $t the other &e&'er$ %hich he %o*l( h!)e h!( i" he %ere ot !l$o ! ,e er!l #!rt er. Art. 11/9. A li&ite( #!rt er !l$o &!y lo! &o ey to ! ( tr! $!ct other '*$i e$$ %ith the #!rt er$hi#+ ! (+ * le$$ he i$ !l$o ! ,e er!l #!rt er+ recei)e o !cco* t o" re$*lti , cl!i&$ !,!i $t the #!rt er$hi#+ %ith ,e er!l cre(itor$+ ! #ro r!t! $h!re o" the !$$et$. No li&ite( #!rt er $h!ll i re$#ect to ! y $*ch cl!i&6 .10 Recei)e or hol( !$ coll!ter!l $ec*rity ! ( #!rt er$hi# #ro#erty+ or .40 Recei)e "ro& ! ,e er!l #!rt er or the #!rt er$hi# ! y #!y&e t+ co )ey! ce+ or rele!$e "ro& li!'ility i" !t the ti&e the !$$et$ o" the #!rt er$hi# !re ot $*""icie t to (i$ch!r,e #!rt er$hi# li!'ilitie$ to #er$o $ ot cl!i&i , !$ ,e er!l or li&ite( #!rt er$. The recei)i , o" coll!ter!l $ec*rity+ or #!y&e t+ co )ey! ce+ or rele!$e i )iol!tio o" the "ore,oi , #ro)i$io $ i$ ! "r!*( o the cre(itor$ o" the #!rt er$hi#. Art. 11//. ;here there !re $e)er!l li&ite( #!rt er$ the &e&'er$ &!y !,ree th!t o e or &ore o" the li&ite( #!rt er$ $h!ll h!)e ! #riority o)er other li&ite( #!rt er$ !$ to the ret*r o" their co tri'*tio $+ !$ to their co&#e $!tio 'y %!y o" i co&e+ or !$ to ! y other &!tter. I" $*ch ! !,ree&e t i$ &!(e it $h!ll 'e $t!te( i the certi"ic!te+ ! ( i the !'$e ce o" $*ch ! $t!te&e t !ll the li&ite( #!rt er$ $h!ll $t! ( *#o e3*!l "ooti ,. Art. 11/6. A li&ite( #!rt er &!y recei)e "ro& the #!rt er$hi# the $h!re o" the #ro"it$ or the co&#e $!tio 'y %!y o" i co&e $ti#*l!te( "or i the certi"ic!te7 #ro)i(e( th!t !"ter $*ch #!y&e t i$ &!(e+ %hether "ro& #ro#erty o" the #!rt er$hi# or th!t o" ! ,e er!l #!rt er+ the #!rt er$hi# !$$et$ !re i e-ce$$ o" !ll li!'ilitie$ o" the #!rt er$hi# e-ce#t li!'ilitie$ to li&ite( #!rt er$ o !cco* t o" their co tri'*tio $ ! ( to ,e er!l #!rt er$. Art. 11/7. A li&ite( #!rt er $h!ll ot recei)e "ro& ! ,e er!l #!rt er or o*t o" #!rt er$hi# #ro#erty ! y #!rt o" hi$ co tri'*tio $ * til6 .10 All li!'ilitie$ o" the #!rt er$hi#+ e-ce#t li!'ilitie$ to ,e er!l #!rt er$ ! ( to li&ite( #!rt er$ o !cco* t o" their co tri'*tio $+ h!)e 'ee #!i( or there re&!i $ #ro#erty o" the #!rt er$hi# $*""icie t to #!y the&7 .40 The co $e t o" !ll &e&'er$ i$ h!(+ * le$$ the ret*r o" the co tri'*tio &!y 'e ri,ht"*lly (e&! (e( * (er the #ro)i$io $ o" the $eco ( #!r!,r!#h7 ! ( .80 The certi"ic!te i$ c! celle( or $o !&e (e( !$ to $et "orth the %ith(r!%!l or re(*ctio . S*'2ect to the #ro)i$io $ o" the "ir$t #!r!,r!#h+ ! li&ite( #!rt er &!y ri,ht"*lly (e&! ( the ret*r o" hi$ co tri'*tio 6 .10 O the (i$$ol*tio o" ! #!rt er$hi#7 or .40 ;he the (!te $#eci"ie( i the certi"ic!te "or it$ ret*r h!$ !rri)e(+ or

.80 A"ter he h!$ $i- &o th$A otice i %riti , to !ll other &e&'er$+ i" o ti&e i$ $#eci"ie( i the certi"ic!te+ either "or the ret*r o" the co tri'*tio or "or the (i$$ol*tio o" the #!rt er$hi#. I the !'$e ce o" ! y $t!te&e t i the certi"ic!te to the co tr!ry or the co $e t o" !ll &e&'er$+ ! li&ite( #!rt er+ irre$#ecti)e o" the !t*re o" hi$ co tri'*tio + h!$ o ly the ri,ht to (e&! ( ! ( recei)e c!$h i ret*r "or hi$ co tri'*tio . A li&ite( #!rt er &!y h!)e the #!rt er$hi# (i$$ol)e( ! ( it$ !""!ir$ %o* ( *# %he 6 .10 He ri,ht"*lly '*t * $*cce$$"*lly (e&! ($ the ret*r o" hi$ co tri'*tio + or .40 The other li!'ilitie$ o" the #!rt er$hi# h!)e ot 'ee #!i(+ or the #!rt er$hi# #ro#erty i$ i $*""icie t "or their #!y&e t !$ re3*ire( 'y the "ir$t #!r!,r!#h+ No. 1+ ! ( the li&ite( #!rt er %o*l( other%i$e 'e e title( to the ret*r o" hi$ co tri'*tio . Art. 11/1. A li&ite( #!rt er i$ li!'le to the #!rt er$hi#6 .10 <or the (i""ere ce 'et%ee hi$ co tri'*tio !$ !ct*!lly &!(e ! ( th!t $t!te( i the certi"ic!te !$ h!)i , 'ee &!(e7 ! ( .40 <or ! y * #!i( co tri'*tio %hich he !,ree( i the certi"ic!te to &!=e i the "*t*re !t the ti&e ! ( o the co (itio $ $t!te( i the certi"ic!te. A li&ite( #!rt er hol($ !$ tr*$tee "or the #!rt er$hi#6 .10 S#eci"ic #ro#erty $t!te( i the certi"ic!te !$ co tri'*te( 'y hi&+ '*t %hich %!$ ot co tri'*te( or %hich h!$ 'ee %ro ,"*lly ret*r e(+ ! ( .40 >o ey or other #ro#erty %ro ,"*lly #!i( or co )eye( to hi& o !cco* t o" hi$ co tri'*tio . The li!'ilitie$ o" ! li&ite( #!rt er !$ $et "orth i thi$ !rticle c! 'e %!i)e( or co&#ro&i$e( o ly 'y the co $e t o" !ll &e&'er$7 '*t ! %!i)er or co&#ro&i$e $h!ll ot !""ect the ri,ht o" ! cre(itor o" ! #!rt er$hi# %ho e-te (e( cre(it or %ho$e cl!i& !ro$e !"ter the "ili , ! ( 'e"ore ! c! cell!tio or !&e (&e t o" the certi"ic!te+ to e "orce $*ch li!'ilitie$. ;he ! co tri'*tor h!$ ri,ht"*lly recei)e( the ret*r i %hole or i #!rt o" the c!#it!l o" hi$ co tri'*tio + he i$ e)erthele$$ li!'le to the #!rt er$hi# "or ! y $*&+ ot i e-ce$$ o" $*ch ret*r %ith i tere$t+ ece$$!ry to (i$ch!r,e it$ li!'ilitie$ to !ll cre(itor$ %ho e-te (e( cre(it or %ho$e cl!i&$ !ro$e 'e"ore $*ch ret*r . Art. 11/5. A li&ite( #!rt erA$ i tere$t i$ !$$i, !'le. A $*'$tit*te( li&ite( #!rt er i$ ! #er$o !(&itte( to !ll the ri,ht$ o" ! li&ite( #!rt er %ho h!$ (ie( or h!$ !$$i, e( hi$ i tere$t i ! #!rt er$hi#. A !$$i, ee+ %ho (oe$ ot 'eco&e ! $*'$tit*te( li&ite( #!rt er+ h!$ o ri,ht to re3*ire ! y i "or&!tio or !cco* t o" the #!rt er$hi# tr! $!ctio $ or to i $#ect the #!rt er$hi# 'oo=$7 he i$ o ly e title( to recei)e the $h!re o" the #ro"it$ or other co&#e $!tio 'y %!y o" i co&e+ or the ret*r o" hi$ co tri'*tio + to %hich hi$ !$$i, or %o*l( other%i$e 'e e title(.

A !$$i, ee $h!ll h!)e the ri,ht to 'eco&e ! $*'$tit*te( li&ite( #!rt er i" !ll the &e&'er$ co $e t thereto or i" the !$$i, or+ 'ei , there* to e&#o%ere( 'y the certi"ic!te+ ,i)e$ the !$$i, ee th!t ri,ht. A !$$i, ee 'eco&e$ ! $*'$tit*te( li&ite( #!rt er %he the certi"ic!te i$ !##ro#ri!tely !&e (e( i !ccor(! ce %ith Article 116/. The $*'$tit*te( li&ite( #!rt er h!$ !ll the ri,ht$ ! ( #o%er$+ ! ( i$ $*'2ect to !ll the re$trictio $ ! ( li!'ilitie$ o" hi$ !$$i, or+ e-ce#t tho$e li!'ilitie$ o" %hich he %!$ i, or! t !t the ti&e he 'ec!&e ! li&ite( #!rt er ! ( %hich co*l( ot 'e !$cert!i e( "ro& the certi"ic!te. The $*'$tit*tio o" the !$$i, ee !$ ! li&ite( #!rt er (oe$ ot rele!$e the !$$i, or "ro& li!'ility to the #!rt er$hi# * (er Article$ 1197 ! ( 1191. Art. 116:. The retire&e t+ (e!th+ i $ol)e cy+ i $! ity or ci)il i ter(ictio o" ! ,e er!l #!rt er (i$$ol)e$ the #!rt er$hi#+ * le$$ the '*$i e$$ i$ co ti *e( 'y the re&!i i , ,e er!l #!rt er$6 .10 ? (er ! ri,ht $o to (o $t!te( i the certi"ic!te+ or .40 ;ith the co $e t o" !ll &e&'er$. Art. 1161. O the (e!th o" ! li&ite( #!rt er hi$ e-ec*tor or !(&i i$tr!tor $h!ll h!)e !ll the ri,ht$ o" ! li&ite( #!rt er "or the #*r#o$e o" $etti , hi$ e$t!te+ ! ( $*ch #o%er !$ the (ece!$e( h!( to co $tit*te hi$ !$$i, ee ! $*'$tit*te( li&ite( #!rt er. The e$t!te o" ! (ece!$e( li&ite( #!rt er $h!ll 'e li!'le "or !ll hi$ li!'ilitie$ !$ ! li&ite( #!rt er. Art. 1164. O (*e !##lic!tio to ! co*rt o" co&#ete t 2*ri$(ictio 'y ! y cre(itor o" ! li&ite( #!rt er+ the co*rt &!y ch!r,e the i tere$t o" the i (e'te( li&ite( #!rt er %ith #!y&e t o" the * $!ti$"ie( !&o* t o" $*ch cl!i&+ ! ( &!y !##oi t ! recei)er+ ! ( &!=e !ll other or(er$+ (irectio $ ! ( i 3*irie$ %hich the circ*&$t! ce$ o" the c!$e &!y re3*ire. The i tere$t &!y 'e re(ee&e( %ith the $e#!r!te #ro#erty o" ! y ,e er!l #!rt er+ '*t &!y ot 'e re(ee&e( %ith #!rt er$hi# #ro#erty. The re&e(ie$ co "erre( 'y the "ir$t #!r!,r!#h $h!ll ot 'e (ee&e( e-cl*$i)e o" other$ %hich &!y e-i$t. Nothi , i thi$ Ch!#ter $h!ll 'e hel( to (e#ri)e ! li&ite( #!rt er o" hi$ $t!t*tory e-e&#tio . Art. 1168. I $etti , !cco* t$ !"ter (i$$ol*tio the li!'ilitie$ o" the #!rt er$hi# $h!ll 'e e title( to #!y&e t i the "ollo%i , or(er6 .10 Tho$e to cre(itor$+ i the or(er o" #riority !$ #ro)i(e( 'y l!%+ e-ce#t tho$e to li&ite( #!rt er$ o !cco* t o" their co tri'*tio $+ ! ( to ,e er!l #!rt er$7 .40 Tho$e to li&ite( #!rt er$ i re$#ect to their $h!re o" the #ro"it$ ! ( other co&#e $!tio 'y %!y o" i co&e o their co tri'*tio $7 .80 Tho$e to li&ite( #!rt er$ i re$#ect to the c!#it!l o" their co tri'*tio $7

.90 Tho$e to ,e er!l #!rt er$ other th! "or c!#it!l ! ( #ro"it$7 ./0 Tho$e to ,e er!l #!rt er$ i re$#ect to #ro"it$7 .60 Tho$e to ,e er!l #!rt er$ i re$#ect to c!#it!l. S*'2ect to ! y $t!te&e t i the certi"ic!te or to $*'$e3*e t !,ree&e t+ li&ite( #!rt er$ $h!re i the #!rt er$hi# !$$et$ i re$#ect to their cl!i&$ "or c!#it!l+ ! ( i re$#ect to their cl!i&$ "or #ro"it$ or "or co&#e $!tio 'y %!y o" i co&e o their co tri'*tio re$#ecti)ely+ i #ro#ortio to the re$#ecti)e !&o* t$ o" $*ch cl!i&$. Art. 1169. The certi"ic!te $h!ll 'e c! celle( %he the #!rt er$hi# i$ (i$$ol)e( or !ll li&ite( #!rt er$ ce!$e to 'e $*ch. A certi"ic!te $h!ll 'e !&e (e( %he 6 .10 There i$ ! ch! ,e i the !&e o" the #!rt er$hi# or i the !&o* t or ch!r!cter o" the co tri'*tio o" ! y li&ite( #!rt er7 .40 A #er$o i$ $*'$tit*te( !$ ! li&ite( #!rt er7 .80 A !((itio !l li&ite( #!rt er i$ !(&itte(7 .90 A #er$o i$ !(&itte( !$ ! ,e er!l #!rt er7 ./0 A ,e er!l #!rt er retire$+ (ie$+ 'eco&e$ i $ol)e t or i $! e+ or i$ $e te ce( to ci)il i ter(ictio ! ( the '*$i e$$ i$ co ti *e( * (er Article 116:7 .60 There i$ ! ch! ,e i the ch!r!cter o" the '*$i e$$ o" the #!rt er$hi#7 .70 There i$ ! "!l$e or erro eo*$ $t!te&e t i the certi"ic!te7 .10 There i$ ! ch! ,e i the ti&e !$ $t!te( i the certi"ic!te "or the (i$$ol*tio o" the #!rt er$hi# or "or the ret*r o" ! co tri'*tio 7 .50 A ti&e i$ "i-e( "or the (i$$ol*tio o" the #!rt er$hi#+ or the ret*r o" ! co tri'*tio + o ti&e h!)i , 'ee $#eci"ie( i the certi"ic!te+ or .1:0 The &e&'er$ (e$ire to &!=e ! ch! ,e i ! y other $t!te&e t i the certi"ic!te i or(er th!t it $h!ll !cc*r!tely re#re$e t the !,ree&e t !&o , the&. Art. 116/. The %riti , to !&e ( ! certi"ic!te $h!ll6 .10 Co "or& to the re3*ire&e t$ o" Article 1199 !$ "!r !$ ece$$!ry to $et "orth cle!rly the ch! ,e i the certi"ic!te %hich it i$ (e$ire( to &!=e7 ! ( .40 Be $i, e( ! ( $%or to 'y !ll &e&'er$+ ! ( ! !&e (&e t $*'$tit*ti , ! li&ite( #!rt er or !((i , ! li&ite( or ,e er!l #!rt er $h!ll 'e $i, e( !l$o 'y the &e&'er to 'e $*'$tit*te( or !((e(+ ! ( %he ! li&ite( #!rt er i$ to 'e $*'$tit*te(+ the !&e (&e t $h!ll !l$o 'e $i, e( 'y the !$$i, i , li&ite( #!rt er. The %riti , to c! cel ! certi"ic!te $h!ll 'e $i, e( 'y !ll &e&'er$. A #er$o (e$iri , the c! cell!tio or !&e (&e t o" ! certi"ic!te+ i" ! y #er$o (e$i, !te( i the "ir$t ! ( $eco ( #!r!,r!#h$ !$ ! #er$o %ho &*$t e-ec*te the

%riti , re"*$e$ to (o $o+ &!y #etitio the co*rt to or(er ! c! cell!tio or !&e (&e t thereo". I" the co*rt "i ($ th!t the #etitio er h!$ ! ri,ht to h!)e the %riti , e-ec*te( 'y ! #er$o %ho re"*$e$ to (o $o+ it $h!ll or(er the O""ice o" the Sec*ritie$ ! ( E-ch! ,e Co&&i$$io %here the certi"ic!te i$ recor(e(+ to recor( the c! cell!tio or !&e (&e t o" the certi"ic!te7 ! ( %he the certi"ic!te i$ to 'e !&e (e(+ the co*rt $h!ll !l$o c!*$e to 'e "ile( "or recor( i $!i( o""ice ! certi"ie( co#y o" it$ (ecree $etti , "orth the !&e (&e t. A certi"ic!te i$ !&e (e( or c! celle( %he there i$ "ile( "or recor( i the O""ice o" the Sec*ritie$ ! ( E-ch! ,e Co&&i$$io + %here the certi"ic!te i$ recor(e(6 .10 A %riti , i !ccor(! ce %ith the #ro)i$io $ o" the "ir$t or $eco ( #!r!,r!#h+ or .40 A certi"ie( co#y o" the or(er o" the co*rt i !ccor(! ce %ith the #ro)i$io $ o" the "o*rth #!r!,r!#h7 .80 A"ter the certi"ic!te i$ (*ly !&e (e( i !ccor(! ce %ith thi$ !rticle+ the !&e (e( certi"ie( $h!ll there!"ter 'e "or !ll #*r#o$e$ the certi"ic!te #ro)i(e( "or i thi$ Ch!#ter. Art. 1166. A co tri'*tor+ * le$$ he i$ ! ,e er!l #!rt er+ i$ ot ! #ro#er #!rty to #rocee(i ,$ 'y or !,!i $t ! #!rt er$hi#+ e-ce#t %here the o'2ect i$ to e "orce ! li&ite( #!rt erA$ ri,ht !,!i $t or li!'ility to the #!rt er$hi#. Art. 1167. A li&ite( #!rt er$hi# "or&e( * (er the l!% #rior to the e""ecti)ity o" thi$ Co(e+ &!y 'eco&e ! li&ite( #!rt er$hi# * (er thi$ Ch!#ter 'y co&#lyi , %ith the #ro)i$io $ o" Article 1199+ #ro)i(e( the certi"ic!te $et$ "orth6 .10 The !&o* t o" the ori,i !l co tri'*tio o" e!ch li&ite( #!rt er+ ! ( the ti&e %he the co tri'*tio %!$ &!(e7 ! ( .40 Th!t the #ro#erty o" the #!rt er$hi# e-cee($ the !&o* t $*""icie t to (i$ch!r,e it$ li!'ilitie$ to #er$o $ ot cl!i&i , !$ ,e er!l or li&ite( #!rt er$ 'y ! !&o* t ,re!ter th! the $*& o" the co tri'*tio $ o" it$ li&ite( #!rt er$. A li&ite( #!rt er$hi# "or&e( * (er the l!% #rior to the e""ecti)ity o" thi$ Co(e+ * til or * le$$ it 'eco&e$ ! li&ite( #!rt er$hi# * (er thi$ Ch!#ter+ $h!ll co ti *e to 'e ,o)er e( 'y the #ro)i$io $ o" the ol( l!%. Title X. - AGENCC CHAPTER 1 NAT?RE+ <OR> ANB DINBS O< AGENCC Art. 1161. By the co tr!ct o" !,e cy ! #er$o 'i ($ hi&$el" to re (er $o&e $er)ice or to (o $o&ethi , i re#re$e t!tio or o 'eh!l" o" ! other+ %ith the co $e t or !*thority o" the l!tter. .17:5!0 Art. 1165. A,e cy &!y 'e e-#re$$+ or i&#lie( "ro& the !ct$ o" the #ri ci#!l+ "ro& hi$ $ile ce or l!c= o" !ctio + or hi$ "!il*re to re#*(i!te the !,e cy+ = o%i , th!t ! other #er$o i$ !cti , o hi$ 'eh!l" %itho*t !*thority. A,e cy &!y 'e or!l+ * le$$ the l!% re3*ire$ ! $#eci"ic "or&. .171:!0

Art. 117:. Acce#t! ce 'y the !,e t &!y !l$o 'e e-#re$$+ or i&#lie( "ro& hi$ !ct$ %hich c!rry o*t the !,e cy+ or "ro& hi$ $ile ce or i !ctio !ccor(i , to the circ*&$t! ce$. . 0 Art. 1171. Bet%ee #er$o $ %ho !re #re$e t+ the !cce#t! ce o" the !,e cy &!y !l$o 'e i&#lie( i" the #ri ci#!l (eli)er$ hi$ #o%er o" !ttor ey to the !,e t ! ( the l!tter recei)e$ it %itho*t ! y o'2ectio . . 0 Art. 1174. Bet%ee #er$o $ %ho !re !'$e t+ the !cce#t! ce o" the !,e cy c! i&#lie( "ro& the $ile ce o" the !,e t+ e-ce#t6 ot 'e

.10 ;he the #ri ci#!l tr! $&it$ hi$ #o%er o" !ttor ey to the !,e t+ %ho recei)e$ it %itho*t ! y o'2ectio 7 .40 ;he the #ri ci#!l e tr*$t$ to hi& 'y letter or tele,r!& ! #o%er o" !ttor ey %ith re$#ect to the '*$i e$$ i %hich he i$ h!'it*!lly e ,!,e( !$ ! !,e t+ ! ( he (i( ot re#ly to the letter or tele,r!&. . 0 Art. 1178. I" ! #er$o $#eci!lly i "or&$ ! other or $t!te$ 'y #*'lic !()erti$e&e t th!t he h!$ ,i)e ! #o%er o" !ttor ey to ! thir( #er$o + the l!tter there'y 'eco&e$ ! (*ly !*thori@e( !,e t+ i the "or&er c!$e %ith re$#ect to the #er$o %ho recei)e( the $#eci!l i "or&!tio + ! ( i the l!tter c!$e %ith re,!r( to ! y #er$o . The #o%er $h!ll co ti *e to 'e i "*ll "orce * til the otice i$ re$ci (e( i the $!&e &! er i %hich it %!$ ,i)e . . 0 Art. 1179. ;he ! $!le o" ! #iece o" l! ( or ! y i tere$t therei i$ thro*,h ! !,e t+ the !*thority o" the l!tter $h!ll 'e i %riti ,7 other%i$e+ the $!le $h!ll 'e )oi(. . 0 Art. 117/. A,e cy i$ #re$*&e( to 'e "or ! co&#e $!tio + * le$$ there i$ #roo" to the co tr!ry. . 0 Art. 1176. A !,e cy i$ either ,e er!l or $#eci!l. The "or&er co&#ri$e$ !ll the '*$i e$$ o" the #ri ci#!l. The l!tter+ o e or &ore $#eci"ic tr! $!ctio $. .17140 Art. 1177. A !,e cy co*che( i ,e er!l ter&$ co&#ri$e$ o ly !ct$ o" !(&i i$tr!tio + e)e i" the #ri ci#!l $ho*l( $t!te th!t he %ithhol($ o #o%er or th!t the !,e t &!y e-ec*te $*ch !ct$ !$ he &!y co $i(er !##ro#ri!te+ or e)e tho*,h the !,e cy $ho*l( !*thori@e ! ,e er!l ! ( * li&ite( &! !,e&e t. . 0 Art. 1171. S#eci!l #o%er$ o" !ttor ey !re ece$$!ry i the "ollo%i , c!$e$6 .10 To &!=e $*ch #!y&e t$ !$ !re ot *$*!lly co $i(ere( !$ !ct$ o" !(&i i$tr!tio 7 .40 To e""ect o)!tio $ %hich #*t ! e ( to o'li,!tio $ !lre!(y i e-i$te ce !t the ti&e the !,e cy %!$ co $tit*te(7 .80 To co&#ro&i$e+ to $*'&it 3*e$tio $ to !r'itr!tio + to re o* ce the ri,ht to !##e!l "ro& ! 2*(,&e t+ to %!i)e o'2ectio $ to the )e *e o" ! !ctio or to !'! (o ! #re$cri#tio !lre!(y !c3*ire(7 .90 To %!i)e ! y o'li,!tio ,r!t*ito*$ly7

./0 To e ter i to ! y co tr!ct 'y %hich the o% er$hi# o" ! i&&o)!'le i$ tr! $&itte( or !c3*ire( either ,r!t*ito*$ly or "or ! )!l*!'le co $i(er!tio 7 .60 To &!=e ,i"t$+ e-ce#t c*$to&!ry o e$ "or ch!rity or tho$e &!(e to e&#loyee$ i the '*$i e$$ &! !,e( 'y the !,e t7 .70 To lo! or 'orro% &o ey+ * le$$ the l!tter !ct 'e *r,e t ! ( i (i$#e $!'le "or the #re$er)!tio o" the thi ,$ %hich !re * (er !(&i i$tr!tio 7 .10 To le!$e ! y re!l #ro#erty to ! other #er$o "or &ore th! o e ye!r7 .50 To 'i ( the #ri ci#!l to re (er $o&e $er)ice %itho*t co&#e $!tio 7 .1:0 To 'i ( the #ri ci#!l i ! co tr!ct o" #!rt er$hi#7 .110 To o'li,!te the #ri ci#!l !$ ! ,*!r! tor or $*rety7 .140 To cre!te or co )ey re!l ri,ht$ o)er i&&o)!'le #ro#erty7 .180 To !cce#t or re#*(i!te ! i herit! ce7 .190 To r!ti"y or reco, i@e o'li,!tio $ co tr!cte( 'e"ore the !,e cy7 .1/0 A y other !ct o" $trict (o&i io . .
0

Art. 1175. A $#eci!l #o%er to $ell e-cl*(e$ the #o%er to &ort,!,e7 ! ( ! $#eci!l #o%er to &ort,!,e (oe$ ot i cl*(e the #o%er to $ell. . 0 Art. 111:. A $#eci!l #o%er to co&#ro&i$e (oe$ ot !*thori@e $*'&i$$io to !r'itr!tio . .1718!0 Art. 1111. The !,e t &*$t !ct %ithi the $co#e o" hi$ !*thority. He &!y (o $*ch !ct$ !$ &!y 'e co (*ci)e to the !cco&#li$h&e t o" the #*r#o$e o" the !,e cy. .1719!0 Art. 1114. The li&it$ o" the !,e tA$ !*thority $h!ll ot 'e co $i(ere( e-cee(e( $ho*l( it h!)e 'ee #er"or&e( i ! &! er &ore !()! t!,eo*$ to the #ri ci#!l th! th!t $#eci"ie( 'y hi&. .171/0 Art. 1118. I" ! !,e t !ct$ i hi$ o% !&e+ the #ri ci#!l h!$ o ri,ht o" !ctio !,!i $t the #er$o $ %ith %ho& the !,e t h!$ co tr!cte(7 either h!)e $*ch #er$o $ !,!i $t the #ri ci#!l. I $*ch c!$e the !,e t i$ the o e (irectly 'o* ( i "!)or o" the #er$o %ith %ho& he h!$ co tr!cte(+ !$ i" the tr! $!ctio %ere hi$ o% + e-ce#t %he the co tr!ct i )ol)e$ thi ,$ 'elo ,i , to the #ri ci#!l. The #ro)i$io $ o" thi$ !rticle $h!ll 'e * (er$too( to 'e %itho*t #re2*(ice to the !ctio $ 'et%ee the #ri ci#!l ! ( !,e t. .17170 CHAPTER 4 OBLIGATIONS O< THE AGENT Art. 1119. The !,e t i$ 'o* ( 'y hi$ !cce#t! ce to c!rry o*t the !,e cy+ ! ( i$ li!'le "or the (!&!,e$ %hich+ thro*,h hi$ o -#er"or&! ce+ the #ri ci#!l &!y $*""er.

He &*$t !l$o "i i$h the '*$i e$$ !lre!(y 'e,* o the (e!th o" the #ri ci#!l+ $ho*l( (el!y e t!il ! y (! ,er. .17110 Art. 111/. I c!$e ! #er$o (ecli e$ ! !,e cy+ he i$ 'o* ( to o'$er)e the (ili,e ce o" ! ,oo( "!ther o" ! "!&ily i the c*$to(y ! ( #re$er)!tio o" the ,oo($ "or%!r(e( to hi& 'y the o% er * til the l!tter $ho*l( !##oi t ! !,e t or t!=e ch!r,e o" the ,oo($. . 0 Art. 1116. Sho*l( there 'e ! $ti#*l!tio th!t the !,e t $h!ll !()! ce the ece$$!ry "* ($+ he $h!ll 'e 'o* ( to (o $o e-ce#t %he the #ri ci#!l i$ i $ol)e t. . 0 Art. 1117. I the e-ec*tio o" the !,e cy+ the !,e t $h!ll !ct i !ccor(! ce %ith the i $tr*ctio $ o" the #ri ci#!l. I (e"!*lt thereo"+ he $h!ll (o !ll th!t ! ,oo( "!ther o" ! "!&ily %o*l( (o+ !$ re3*ire( 'y the !t*re o" the '*$i e$$. .17150 Art. 1111. A !,e t $h!ll ot c!rry o*t ! !,e cy i" it$ e-ec*tio %o*l( &! i"e$tly re$*lt i lo$$ or (!&!,e to the #ri ci#!l. . 0 Art. 1115. The !,e t $h!ll 'e li!'le "or (!&!,e$ i"+ there 'ei , ! co "lict 'et%ee hi$ i tere$t$ ! ( tho$e o" the #ri ci#!l+ he $ho*l( #re"er hi$ o% . . 0 Art. 115:. I" the !,e t h!$ 'ee e&#o%ere( to 'orro% &o ey+ he &!y hi&$el" 'e the le (er !t the c*rre t r!te o" i tere$t. I" he h!$ 'ee !*thori@e( to le ( &o ey !t i tere$t+ he c! ot 'orro% it %itho*t the co $e t o" the #ri ci#!l. . 0 Art. 1151. E)ery !,e t i$ 'o* ( to re (er ! !cco* t o" hi$ tr! $!ctio $ ! ( to (eli)er to the #ri ci#!l %h!te)er he &!y h!)e recei)e( 'y )irt*e o" the !,e cy+ e)e tho*,h it &!y ot 'e o%i , to the #ri ci#!l. E)ery $ti#*l!tio e-e&#ti , the !,e t "ro& the o'li,!tio to re (er ! !cco* t $h!ll 'e )oi(. .174:!0 Art. 1154. The !,e t &!y !##oi t ! $*'$tit*te i" the #ri ci#!l h!$ ot #rohi'ite( hi& "ro& (oi , $o7 '*t he $h!ll 'e re$#o $i'le "or the !ct$ o" the $*'$tit*te6 .10 ;he he %!$ ot ,i)e the #o%er to !##oi t o e7 .40 ;he he %!$ ,i)e $*ch #o%er+ '*t %itho*t (e$i, !ti , the #er$o + ! ( the #er$o !##oi te( %!$ otorio*$ly i co&#ete t or i $ol)e t. All !ct$ o" the $*'$tit*te !##oi te( !,!i $t the #rohi'itio o" the #ri ci#!l $h!ll 'e )oi(. .17410 Art. 1158. I the c!$e$ &e tio e( i No$. 1 ! ( 4 o" the #rece(i , !rticle+ the #ri ci#!l &!y "*rther&ore 'ri , ! !ctio !,!i $t the $*'$tit*te %ith re$#ect to the o'li,!tio $ %hich the l!tter h!$ co tr!cte( * (er the $*'$tit*tio . .1744!0 Art. 1159. The re$#o $i'ility o" t%o or &ore !,e t$+ e)e tho*,h they h!)e 'ee !##oi te( $i&*lt! eo*$ly+ i$ ot $oli(!ry+ i" $oli(!rity h!$ ot 'ee e-#re$$ly $ti#*l!te(. .17480 Art. 115/. I" $oli(!rity h!$ 'ee !,ree( *#o + e!ch o" the !,e t$ i$ re$#o $i'le "or the o -"*l"ill&e t o" !,e cy+ ! ( "or the "!*lt or e,li,e ce o" hi$ "ello%$ !,e t$+ e-ce#t i the l!tter c!$e %he the "ello% !,e t$ !cte( 'eyo ( the $co#e o" their !*thority. . 0

Art. 1156. The !,e t o%e$ i tere$t o the $*&$ he h!$ !##lie( to hi$ o% *$e "ro& the (!y o %hich he (i( $o+ ! ( o tho$e %hich he $till o%e$ !"ter the e-ti ,*i$h&e t o" the !,e cy. .1749!0 Art. 1157. The !,e t %ho !ct$ !$ $*ch i$ ot #er$o !lly li!'le to the #!rty %ith %ho& he co tr!ct$+ * le$$ he e-#re$$ly 'i ($ hi&$el" or e-cee($ the li&it$ o" hi$ !*thority %itho*t ,i)i , $*ch #!rty $*""icie t otice o" hi$ #o%er$. .174/0 Art. 1151. I" the !,e t co tr!ct$ i the !&e o" the #ri ci#!l+ e-cee(i , the $co#e o" hi$ !*thority+ ! ( the #ri ci#!l (oe$ ot r!ti"y the co tr!ct+ it $h!ll 'e )oi( i" the #!rty %ith %ho& the !,e t co tr!cte( i$ !%!re o" the li&it$ o" the #o%er$ ,r! te( 'y the #ri ci#!l. I thi$ c!$e+ ho%e)er+ the !,e t i$ li!'le i" he * (ertoo= to $ec*re the #ri ci#!lA$ r!ti"ic!tio . . 0 Art. 1155. I" ! (*ly !*thori@e( !,e t !ct$ i !ccor(! ce %ith the or(er$ o" the #ri ci#!l+ the l!tter c! ot $et *# the i, or! ce o" the !,e t !$ to circ*&$t! ce$ %hereo" he hi&$el" %!$+ or o*,ht to h!)e 'ee + !%!re. . 0 Art. 15::. So "!r !$ thir( #er$o $ !re co cer e(+ ! !ct i$ (ee&e( to h!)e 'ee #er"or&e( %ithi the $co#e o" the !,e tA$ !*thority+ i" $*ch !ct i$ %ithi the ter&$ o" the #o%er o" !ttor ey+ !$ %ritte + e)e i" the !,e t h!$ i "!ct e-cee(e( the li&it$ o" hi$ !*thority !ccor(i , to ! * (er$t! (i , 'et%ee the #ri ci#!l ! ( the !,e t. . 0 Art. 15:1. A thir( #er$o c! ot $et *# the "!ct th!t the !,e t h!$ e-cee(e( hi$ #o%er$+ i" the #ri ci#!l h!$ r!ti"ie(+ or h!$ $i, i"ie( hi$ %illi , e$$ to r!ti"y the !,e tA$ !ct$. . 0 Art. 15:4. A thir( #er$o %ith %ho& the !,e t %i$he$ to co tr!ct o 'eh!l" o" the #ri ci#!l &!y re3*ire the #re$e t!tio o" the #o%er o" !ttor ey+ or the i $tr*ctio $ !$ re,!r($ the !,e cy. Pri)!te or $ecret or(er$ ! ( i $tr*ctio $ o" the #ri ci#!l (o ot #re2*(ice thir( #er$o $ %ho h!)e relie( *#o the #o%er o" !ttor ey or i $tr*ctio $ $ho% the&. . 0 Art. 15:8. The co&&i$$io !,e t $h!ll 'e re$#o $i'le "or the ,oo($ recei)e( 'y hi& i the ter&$ ! ( co (itio $ ! ( !$ (e$cri'e( i the co $i, &e t+ * le$$ *#o recei)i , the& he $ho*l( &!=e ! %ritte $t!te&e t o" the (!&!,e ! ( (eterior!tio $*""ere( 'y the $!&e. . 0 Art. 15:9. The co&&i$$io !,e t %ho h! (le$ ,oo($ o" the $!&e =i ( ! ( &!r=+ %hich 'elo , to (i""ere t o% er$+ $h!ll (i$ti ,*i$h the& 'y co* ter&!r=$+ ! ( (e$i, !te the &erch! (i$e re$#ecti)ely 'elo ,i , to e!ch #ri ci#!l. . 0 Art. 15:/. The co&&i$$io !,e t c! ot+ %itho*t the e-#re$$ or i&#lie( co $e t o" the #ri ci#!l+ $ell o cre(it. Sho*l( he (o $o+ the #ri ci#!l &!y (e&! ( "ro& hi& #!y&e t i c!$h+ '*t the co&&i$$io !,e t $h!ll 'e e title( to ! y i tere$t or 'e e"it+ %hich &!y re$*lt "ro& $*ch $!le. . 0 Art. 15:6. Sho*l( the co&&i$$io !,e t+ %ith !*thority o" the #ri ci#!l+ $ell o cre(it+ he $h!ll $o i "or& the #ri ci#!l+ %ith ! $t!te&e t o" the !&e$ o" the '*yer$. Sho*l( he "!il to (o $o+ the $!le $h!ll 'e (ee&e( to h!)e 'ee &!(e "or c!$h i $o"!r !$ the #ri ci#!l i$ co cer e(. . 0 Art. 15:7. Sho*l( the co&&i$$io !,e t recei)e o ! $!le+ i !((itio to the or(i !ry co&&i$$io + ! other c!lle( ! ,*!r! tee co&&i$$io + he $h!ll 'e!r the ri$= o" collectio ! ( $h!ll #!y the #ri ci#!l the #rocee($ o" the $!le o the $!&e ter&$ !,ree( *#o %ith the #*rch!$er. . 0

Art. 15:1. The co&&i$$io !,e t %ho (oe$ ot collect the cre(it$ o" hi$ #ri ci#!l !t the ti&e %he they 'eco&e (*e ! ( (e&! (!'le $h!ll 'e li!'le "or (!&!,e$+ * le$$ he #ro)e$ th!t he e-erci$e( (*e (ili,e ce "or th!t #*r#o$e. . 0 Art. 15:5. The !,e t i$ re$#o $i'le ot o ly "or "r!*(+ '*t !l$o "or e,li,e ce+ %hich $h!ll 'e 2*(,e( %ith &ore or le$$ ri,or 'y the co*rt$+ !ccor(i , to %hether the !,e cy %!$ or %!$ ot "or ! co&#e $!tio . .17460 CHAPTER 8 OBLIGATIONS O< THE PRINCIPAL Art. 151:. The #ri ci#!l &*$t co&#ly %ith !ll the o'li,!tio $ %hich the !,e t &!y h!)e co tr!cte( %ithi the $co#e o" hi$ !*thority. A$ "or ! y o'li,!tio %herei the !,e t h!$ e-cee(e( hi$ #o%er+ the #ri ci#!l i$ ot 'o* ( e-ce#t %he he r!ti"ie$ it e-#re$$ly or t!citly. .17470 Art. 1511. E)e %he the !,e t h!$ e-cee(e( hi$ !*thority+ the #ri ci#!l i$ $oli(!rily li!'le %ith the !,e t i" the "or&er !llo%e( the l!tter to !ct !$ tho*,h he h!( "*ll #o%er$. . 0 Art. 1514. The #ri ci#!l &*$t !()! ce to the !,e t+ $ho*l( the l!tter $o re3*e$t+ the $*&$ ece$$!ry "or the e-ec*tio o" the !,e cy. Sho*l( the !,e t h!)e !()! ce( the&+ the #ri ci#!l &*$t rei&'*r$e hi& there"or+ e)e i" the '*$i e$$ or * (ert!=i , %!$ ot $*cce$$"*l+ #ro)i(e( the !,e t i$ "ree "ro& !ll "!*lt. The rei&'*r$e&e t $h!ll i cl*(e i tere$t o the $*&$ !()! ce(+ "ro& the (!y o %hich the !()! ce %!$ &!(e. .17410 Art. 1518. The #ri ci#!l &*$t !l$o i (e& i"y the !,e t "or !ll the (!&!,e$ %hich the e-ec*tio o" the !,e cy &!y h!)e c!*$e( the l!tter+ %itho*t "!*lt or e,li,e ce o hi$ #!rt. .17450 Art. 1519. The !,e t &!y ret!i i #le(,e the thi ,$ %hich !re the o'2ect o" the !,e cy * til the #ri ci#!l e""ect$ the rei&'*r$e&e t ! ( #!y$ the i (e& ity $et "orth i the t%o #rece(i , !rticle$. .178:0 Art. 151/. I" t%o or &ore #er$o $ h!)e !##oi te( ! !,e t "or ! co&&o tr! $!ctio or * (ert!=i ,+ they $h!ll 'e $oli(!rily li!'le to the !,e t "or !ll the co $e3*e ce$ o" the !,e cy. .17810 Art. 1516. ;he t%o #er$o $ co tr!ct %ith re,!r( to the $!&e thi ,+ o e o" the& %ith the !,e t ! ( the other %ith the #ri ci#!l+ ! ( the t%o co tr!ct$ !re i co&#!ti'le %ith e!ch other+ th!t o" #rior (!te $h!ll 'e #re"erre(+ %itho*t #re2*(ice to the #ro)i$io $ o" Article 1/99. . 0 Art. 1517. I the c!$e re"erre( to i the #rece(i , !rticle+ i" the !,e t h!$ !cte( i ,oo( "!ith+ the #ri ci#!l $h!ll 'e li!'le i (!&!,e$ to the thir( #er$o %ho$e co tr!ct &*$t 'e re2ecte(. I" the !,e t !cte( i '!( "!ith+ he !lo e $h!ll 'e re$#o $i'le. . 0 Art. 1511. The #ri ci#!l i$ ot li!'le "or the e-#e $e$ i c*rre( 'y the !,e t i the "ollo%i , c!$e$6

.10 I" the !,e t !cte( i co tr!)e tio o" the #ri ci#!lA$ i $tr*ctio $+ * le$$ the l!tter $ho*l( %i$h to !)!il hi&$el" o" the 'e e"it$ (eri)e( "ro& the co tr!ct7 .40 ;he the e-#e $e$ %ere (*e to the "!*lt o" the !,e t7 .80 ;he the !,e t i c*rre( the& %ith = o%le(,e th!t ! * "!)or!'le re$*lt %o*l( e $*e+ i" the #ri ci#!l %!$ ot !%!re thereo"7 .90 ;he it %!$ $ti#*l!te( th!t the e-#e $e$ %o*l( 'e 'or e 'y the !,e t+ or th!t the l!tter %o*l( 'e !llo%e( o ly ! cert!i $*&. . 0 CHAPTER 9 >OBES O< EXTING?ISH>ENT O< AGENCC Art. 1515. A,e cy i$ e-ti ,*i$he(6 .10 By it$ re)oc!tio 7 .40 By the %ith(r!%!l o" the !,e t7 .80 By the (e!th+ ci)il i ter(ictio + i $! ity or i $ol)e cy o" the #ri ci#!l or o" the !,e t7 .90 By the (i$$ol*tio o" the "ir& or cor#or!tio %hich e tr*$te( or !cce#te( the !,e cy7 ./0 By the !cco&#li$h&e t o" the o'2ect or #*r#o$e o" the !,e cy7 .60 By the e-#ir!tio o" the #erio( "or %hich the !,e cy %!$ co $tit*te(. .1784!0 Art. 154:. The #ri ci#!l &!y re)o=e the !,e cy !t %ill+ ! ( co&#el the !,e t to ret*r the (oc*&e t e)i(e ci , the !,e cy. S*ch re)oc!tio &!y 'e e-#re$$ or i&#lie(. .1788!0 Art. 1541. I" the !,e cy h!$ 'ee e tr*$te( "or the #*r#o$e o" co tr!cti , %ith $#eci"ie( #er$o $+ it$ re)oc!tio $h!ll ot #re2*(ice the l!tter i" they %ere ot ,i)e otice thereo". .17890 Art. 1544. I" the !,e t h!( ,e er!l #o%er$+ re)oc!tio o" the !,e cy (oe$ ot #re2*(ice thir( #er$o $ %ho !cte( i ,oo( "!ith ! ( %itho*t = o%le(,e o" the re)oc!tio . Notice o" the re)oc!tio i ! e%$#!#er o" ,e er!l circ*l!tio i$ ! $*""icie t %!r i , to thir( #er$o $. . 0 Art. 1548. The !##oi t&e t o" ! e% !,e t "or the $!&e '*$i e$$ or tr! $!ctio re)o=e$ the #re)io*$ !,e cy "ro& the (!y o %hich otice thereo" %!$ ,i)e to the "or&er !,e t+ %itho*t #re2*(ice to the #ro)i$io $ o" the t%o #rece(i , !rticle$. .178/!0 Art. 1549. The !,e cy i$ re)o=e( i" the #ri ci#!l (irectly &! !,e$ the '*$i e$$ e tr*$te( to the !,e t+ (e!li , (irectly %ith thir( #er$o $. . 0 Art. 154/. ;he t%o or &ore #ri ci#!l$ h!)e ,r! te( ! #o%er o" !ttor ey "or ! co&&o tr! $!ctio + ! y o e o" the& &!y re)o=e the $!&e %itho*t the co $e t o" the other$. . 0 Art. 1546. A ,e er!l #o%er o" !ttor ey i$ re)o=e( 'y ! $#eci!l o e ,r! te( to ! other !,e t+ !$ re,!r($ the $#eci!l &!tter i )ol)e( i the l!tter. . 0

Art. 1547. A !,e cy c! ot 'e re)o=e( i" ! 'il!ter!l co tr!ct (e#e ($ *#o it+ or i" it i$ the &e! $ o" "*l"illi , ! o'li,!tio !lre!(y co tr!cte(+ or i" ! #!rt er i$ !##oi te( &! !,er o" ! #!rt er$hi# i the co tr!ct o" #!rt er$hi# ! ( hi$ re&o)!l "ro& the &! !,e&e t i$ * 2*$ti"i!'le. . 0 Art. 1541. The !,e t &!y %ith(r!% "ro& the !,e cy 'y ,i)i , (*e otice to the #ri ci#!l. I" the l!tter $ho*l( $*""er ! y (!&!,e 'y re!$o o" the %ith(r!%!l+ the !,e t &*$t i (e& i"y hi& there"or+ * le$$ the !,e t $ho*l( '!$e hi$ %ith(r!%!l *#o the i&#o$$i'ility o" co ti *i , the #er"or&! ce o" the !,e cy %itho*t ,r!)e (etri&e t to hi&$el". .1786!0 Art. 1545. The !,e t+ e)e i" he $ho*l( %ith(r!% "ro& the !,e cy "or ! )!li( re!$o + &*$t co ti *e to !ct * til the #ri ci#!l h!$ h!( re!$o !'le o##ort* ity to t!=e the ece$$!ry $te#$ to &eet the $it*!tio . .1787!0 Art. 158:. The !,e cy $h!ll re&!i i "*ll "orce ! ( e""ect e)e !"ter the (e!th o" the #ri ci#!l+ i" it h!$ 'ee co $tit*te( i the co&&o i tere$t o" the l!tter ! ( o" the !,e t+ or i the i tere$t o" ! thir( #er$o %ho h!$ !cce#te( the $ti#*l!tio i hi$ "!)or. . 0 Art. 1581. A ythi , (o e 'y the !,e t+ %itho*t = o%le(,e o" the (e!th o" the #ri ci#!l or o" ! y other c!*$e %hich e-ti ,*i$he$ the !,e cy+ i$ )!li( ! ( $h!ll 'e "*lly e""ecti)e %ith re$#ect to thir( #er$o $ %ho &!y h!)e co tr!cte( %ith hi& i ,oo( "!ith. .17810 Art. 1584. I" the !,e t (ie$+ hi$ heir$ &*$t oti"y the #ri ci#!l thereo"+ ! ( i the &e! ti&e !(o#t $*ch &e!$*re$ !$ the circ*&$t! ce$ &!y (e&! ( i the i tere$t o" the l!tter. .1785