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  • Aldecoa Vs Warner 16 Phil 423

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    Krystine Godalle
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    Aldecoa & Co. sued Warner, Barnes & Co. for failing to provide accounts and documentation of a joint partnership between the companies for purchasing and selling hemp in Albay. As manager of the partnership, Warner, Barnes was required under commercial code to render accounts with vouchers and liquidate partnership assets, but refused to provide documents for examination. The court held that managers of joint partnerships have a duty to immediately render substantiated accounts of transactions and liquidate common assets in the final accounts.

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    Aldecoa vs Warner 16 Phil 423

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    Aldecoa & Co. sued Warner, Barnes & Co. for failing to provide accounts and documentation of a joint partnership between the companies for purchasing and selling hemp in Albay. As manager of the partnership, Warner, Barnes was required under commercial code to render accounts with vouchers and liquidate partnership assets, but refused to provide documents for examination. The court held that managers of joint partnerships have a duty to immediately render substantiated accounts of transactions and liquidate common assets in the final accounts.

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    © All Rights Reserved
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    99 views1 page

    Aldecoa Vs Warner 16 Phil 423

    Uploaded by

    Krystine Godalle
    Aldecoa & Co. sued Warner, Barnes & Co. for failing to provide accounts and documentation of a joint partnership between the companies for purchasing and selling hemp in Albay. As manager of the partnership, Warner, Barnes was required under commercial code to render accounts with vouchers and liquidate partnership assets, but refused to provide documents for examination. The court held that managers of joint partnerships have a duty to immediately render substantiated accounts of transactions and liquidate common assets in the final accounts.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    Aldecoa & Co. vs Warner, Barnes & Co.

    16 Phil 423
    August 6, 1910

    Facts:

    On September 1907 the legal representative of Aldecoa & Co., in liquidation, filed suit in the Court of First Instance of
    Manila against Warner, Barnes & Co., Ltd. the complaint set forth that, prior to December 1, 1898, Warner, Barnes and
    Co. were conducting a business in Albay. The principal object of the business was the purchase of hemp in the pueblos
    of Legaspi and Tobacco for the purpose of bringing it to Manila to sell for exportation. On the same date, the Aldecoa
    became interested in the business of Warner, Barnes and Co. in Albay and formed therewith a joint-account partnership
    in which Aldecoa and Co. were to share equally in the gains and losses of the business. Later on, the legal
    representative of Aldecoa and Co. in liquidation, filed suit in the CFI of Manila against Warner and Co., alleging that
    the Warner and Co., as manager of the joint-account partnership, neglected to comply with what is especially
    prescribed in Art. 243 of the Code of Commerce, as a duty to inherent to its position, which is that of rendering of an
    account with vouchers, and that of liquidating the said business, for it refuses to furnish Pacific the documents required
    for their examination and verification, and also refuses to realize the firm assets by selling the warehouses, houses,
    and other property which constitute the capital.

    Issue:

    Whether or not this litigation concerns the rendering of accounts pertaining to the management of the business of a
    joint-account partnership formed between the two litigants companies.

    Held:

    It is a rule of law generally observed that he who takes charge of the management of another's property is bound
    immediately thereafter to render accounts covering his transactions; and that it is always to be understood that all
    accounts rendered must be duly substantiated by vouchers. It is one of the duties of the manager of a joint-account
    partnership, to liquidate the assets that form the common property, and to state the result obtained therefrom in the
    final rendering of the accounts which he is to present at the conclusion of the partnership.

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