3.1.174 to 3.1.178

(150) It is certain, however, that if no agreement concerning the division of profit and loss should be made among the parties, the benefit and the disadvantage shall be equally shared between them. If the share of each should be stated, so far as the profit is concerned, but omitted with reference to the loss, the loss must be shared in the same way as the profit. (151) Moreover, a partnership continues to exist as long as the partners give their consent, and when any one of them renounces the partnership, it is dissolved. It is clear, however, if a person renounces a partnership in order that he alone may obtain some pecuniary advantage, for instance, if a partner of mine in the entire property should be left an heir by anyone, and should renounce the partnership in order that he alone may profit by the estate, he can be compelled to share this gain with his partners. If, however, he obtains any profit, without intending to do so, it shall belong to him alone, and I will only be entitled to whatever may be acquired by him after he renounces the partnership. (152) A partnership is also dissolved by the death of a partner, for he who enters into one selects a certain person for his associate. (153) It is also said that a partnership is dissolved by forfeiture of civil rights, for the reason that under the rule of the Civil Law loss of civil rights is considered as equivalent to death; but if the partners still consent to the continuance of the partnership a new one is considered to be formed. (154) Likewise, a partnership is dissolved if the property of one of the partners is disposed of at either public or private sale. The kind of partnership, of which we are speaking, however, that is one which is formed by mere consent, belongs to the Law of Nations, and therefore continues to exist according to natural reason among all men.