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to any creditor of the firm who has been actually misled thereby to his prejudice.

2503. One who, upon making a contract with a partnership, accepts from or gives to it a written memorandum of the contract, stating that the partnership is special, and giving the names of the special partners, cannot afterwards charge the persons thus named as general partners upon that contract, by reason of an error or defect in the proceedings for the creation of the special partnership, nrior to the acceptance of the memorandum, if an effort has been made by the partners, in good faith, to form a special partnership in the manner required by article one of this chapter.

ARTICLE IV.
Alteration and Dissolution of the Partnership.
Section

Section 2507. When special partnership 2509. Dissolution special partnerbecomes general.

ship. Notice. 2508. New special partners admit- 2510. Special partners' names, not ted.

used, unless. 2507. A special partnership becomes general if, within ten days after any partner withdraws from it, or any new partner is received into it, or a change is made in the nature of its business or in its name, a certificate of such fact, duly verified and signed by one or more of the partners, is not filed with the county clerk and recorder with whom the original certificate of the partnership was filed, and notice thereof published as is provided in article one of this chapter for the publication of the certificate,

2508. New special partners may be admitted into a special partnership upon a certificate, stating the names, residences, and contributions to the common stock of each of such partners, signed by each of them, and by the general partners, verified, acknowledged, or proved, according to the provisions of article one of this chapter, and filed with the county clerk and recorder with whom the original certificate of the partnership was filed.

2509. A special partnership is subject to dissolution in the same manner as a general partnership, except that no dissolution, by the act of the partners, is complete until a notice thereof has been filed and recorded in the office of the county clerk and recorder with whom the original certificate was recorded, and published once in each week, for four successive weeks, in a newspaper printed in each county where the partnership has a place of business.

2510. The name of a special partner must not me used in the firm name of partnership, unless it be accompanied with the word "limited.”

CHAPTER IV.
Mining Partnership.

Section

Section 2511. Mining partnerships, when 2516. Not dissolved by sale. exists.

2517. Purchaser takes, subject to 2512. Express agreement not nec-· liens, unless, etc. essary to constitute.

2518. Takes with notice of lien, 2513. Profits and losses, how

when. shared.

2519. Contract in writing, bind2514. Lien of partners.

ing, when. 2515. Mining partnership, prop- 2520. Majority of shares govern.

erty.

2511. A mining partnership exists when two or more persons who own or acquire a mining claim for the purpose of working it and extracting the mineral therefrom actually engage in working the same.

2512. An express agreement to become partners or to share the profits and losses of mining is not necessary to the formation or existence of a mining partnership. The relation arises from the ownership of shares or interests in the mine and working the same for the purpose of extracting the minerals therefrom.

2513. A member of a mining partnership shares in the profits and losses thereof in the proportion which the interest or share he owns in the mine bears to the whole partnership capital or whole number of shares.

2514. Each member of a mining partnership has a lien on the partnership property for the debts due the creditors thereof, and for money advanced by him for its use. This lien exists notwithstanding there is an agreement among the partners that it must not.

2515. The mining-ground owned and worked by partners in mining, whether purchased with partnership funds or not, is partnership property.

2516. One of the partners in a mining partnership may convey his interest in the mine and business without dissolving the partnership. The purchaser, from the date of his purchase, becomes a member of the partnership.

2517. A purchaser of an interest in the mining-ground of a mining partnership takes it subject to the liens existing in favor of the partners for debts due all creditors thereof, or advances made for the benefit of the partnership, unless he purchased in good faith, for a valuable consideration, without notice of such lien.

2518. A purchaser of the interest of a partner in a mine when the partnership is engaged in working it, takes with notice of all liens resulting from the relation of the partners to each other and to the creditors of the partnership.

2519. No member of a mining partnership or other agent or manager thereof can, by a contract in writing, bind the partner

ship, except by express authority derived from the members thereof.

2520. The decision of the members owning a majority of the shares or interests in a mining partnership binds it in the conduct of its business.

TITLE XI.

Insurance.
Chapter I. Insurance in General.

II. Marine Insurance,
III. Fire Insurance.
IV. Life and Health Insurance.

CHAPTER I.

Insurance in General.
Article I. Definition of Insurance.

II. What May Be Insured.
III. Parties to the Contract.
IV. Insurable Interest.

V. Concealment and Representations.
VI. The Policy.
VII. Warranties.
VIII. Premium.
IX. Loss.

X. Notice of Loss.
XI. Double Insurance.
XII. Reinsurance.

ARTICLE I.
Definition of Insurance.

Section
2527. Insurance, what.

2527. Insurance is a contract whereby one undertakes to indemnify another against loss, damage, or liability, arising from an unknown or contingent event.

ARTICLE II.

What May Be Insured. Section

Section 2531. Events that may be insured 2533. Usual kinds insurance. against.

2534. All subject to this chapter. 2532. Lottery insurance unauthor

ized.

2531. Any contingent or unknown event, whether past or future, which may damnify a person having an insurable interest, or create

a liability against him, may be insured against, subject to the provisions of this chapter.

2532. The preceding section does not authorize an insurance for or against the drawing of any lottery, or for or against any chance or ticket in a lottery drawing a prize.

2533. The most usual kinds of insurance are:
1. · Marine insurance;
2. Fire insurance;
3. Life insurance;
4. Health insurance; and,
5. Accident insurance.

2534. All kinds of insurance are subject to the provisions of this chapter.

ARTICLE III.
Parties to the Contract.

Section

2538. Designation of parties.
2539. Who may insure.
2540. Who may be insured.

Section
2541. Assignment policy.
2542. New contract, insurer, as.

signee.

2538. The person who undertakes to indemnify another by a contract of insurance is called the insurer, and the person indemnified is called the insured.

2539. Anyone capable of making a contract may be an insurer, subject to the restrictions imposed by special statutes upon foreign corporations, non-residents, and others.

2540. Any one except a public enemy may be insured.

2541. Unless the policy otherwise provides, where a mortgagor of property effects insurance in his own name providing that the loss shall be payable to the mortgagee, or assigns a policy of insurance to a mortgagee, the insurance is deemed to be upon the interest of the mortgagor, who does not cease to be a party to the original contract, and any act of his, prior to the loss, which would otherwise avoid the insurance will have the same effect, although the property is in the hands of the mortgagee, but any act which, under the contract of insurance, is to be performed by the mortgagor, may be performed by the mortgagee therein named, with the same effect as if it had been performed by the mortgagor. 1909—914.

2542. If an insurer assents to the transfer of an insurance from a mortgagor to a mortgagee, and, at the time of his assent, imposes further obligations on the assignee, making a new contract with him, the acts of the mortgagor cannot affect his rights.

ARTICLE IV.

Insurable Interest.

Section

Section 2546. Insurable interest, what. 2552. When interest must exist. 2547. In what may consist.

2553. Effect of transfer. 2548. Carrier's or depositary's in 2554. Transfer after loss. terest.

2555. Exceptions generally. 2549. Mere expectances.

2556. Death of insured. 2550. Measure of interest in prop- 2557. Transfer between co-tenerty.

ants. 2551. Insurance without interest, 2558. Policy void, when.

illegal.

2546. Every interest in property, or any relation thereto, or liability in respect thereof, of such a nature that a contemplated peril might directly damnify the insured, is an insurable interest.

2547. An insurable interest in property may consist in:
1. An existing interest;
2. An inchoate interest founded on an existing interest; or,

3. An expectancy, coupled with an existing interest in that out of which the expectancy arises.

2548. A carrier or depositary of any kind has an insurable interest in a thing held by him as such, to the extent of its value.

2549. A mere contingent or expectant interest in anything, not founded on an actual right to the thing, nor upon any valid contract for it, is not insurable.

2550. The measure of an insurable interest in property is the extent to which the insured might be damnified by loss or injury thereof.

2551. The sole object of insurance is the indemnity of the insured, and if he has no insurable interest the contract is void.

2552. An interest insured must exist when the insurance takes effect, and when the loss occurs, but need not exist in the meantime.

2553. Except in the cases specified in the next four sections, and in the cases of life, accident, and health insurance, a change of interest in any part of a thing insured, unaccompanied by a corresponding change of interest in the insurance, suspends the insurance to an equivalent extent, until the interest in the thing and the interest in the insurance are vested in the same person.

2554. A change of interest in a thing insured, after the occurrence of an injury which results in a loss, does not affect the right of the insured to indemnity for the loss.

2555. A change of interest in one or more of several distinct things, separately insured by one policy, does not avoid the insurance as to the others.

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