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    Gorio V Goria Facts

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    The Supreme Court ruled on a case involving the dissolution of the law firm partnership of Bito, Misa & Lozada. One of the senior partners, Ortega, withdrew from the firm. The SEC ruled that the partnership was one at will and that the withdrawal of Misa dissolved the partnership, regardless of whether it was done in good or bad faith. The Supreme Court affirmed, finding that the partnership agreement allowed the partnership to continue only so long as it remained mutually satisfactory to the partners, and that any partner could dissolve the partnership at will through withdrawal, although bad faith could result in liability for damages.

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    Gorio V Goria Facts

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    fred
    18 views1 page
    The Supreme Court ruled on a case involving the dissolution of the law firm partnership of Bito, Misa & Lozada. One of the senior partners, Ortega, withdrew from the firm. The SEC ruled that the partnership was one at will and that the withdrawal of Misa dissolved the partnership, regardless of whether it was done in good or bad faith. The Supreme Court affirmed, finding that the partnership agreement allowed the partnership to continue only so long as it remained mutually satisfactory to the partners, and that any partner could dissolve the partnership at will through withdrawal, although bad faith could result in liability for damages.

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    Gorio v Goria

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    The Supreme Court ruled on a case involving the dissolution of the law firm partnership of Bito, Misa & Lozada. One of the senior partners, Ortega, withdrew from the firm. The SEC ruled that the partnership was one at will and that the withdrawal of Misa dissolved the partnership, regardless of whether it was done in good or bad faith. The Supreme Court affirmed, finding that the partnership agreement allowed the partnership to continue only so long as it remained mutually satisfactory to the partners, and that any partner could dissolve the partnership at will through withdrawal, although bad faith could result in liability for damages.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    18 views1 page

    Gorio V Goria Facts

    Uploaded by

    fred
    The Supreme Court ruled on a case involving the dissolution of the law firm partnership of Bito, Misa & Lozada. One of the senior partners, Ortega, withdrew from the firm. The SEC ruled that the partnership was one at will and that the withdrawal of Misa dissolved the partnership, regardless of whether it was done in good or bad faith. The Supreme Court affirmed, finding that the partnership agreement allowed the partnership to continue only so long as it remained mutually satisfactory to the partners, and that any partner could dissolve the partnership at will through withdrawal, although bad faith could result in liability for damages.

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    GOrio v GOria

    G.R. No. 109248 July 3, 1995


    Facts:
    Ortega, then a senior partner in the law firm Bito, Misa, and Lozada withdrew in said firm. He filed with SEC
    a petition for dissolution and liquidation of partnership. SEC en banc ruled that withdrawal of Misa from the
    firm had dissolved the partnership. Because since it is partnership at will, the law firm could be dissolved by
    any partner at anytime, such as by withdrawal there from, regardless of good faith or bad faith, since no
    partner can be forced to continue in the partnership against his will.

    Issue:
    1. WON the partnership of Bito, Misa & Lozada (now Bito, Lozada, Ortega & Castillo)is a partnership at will;
    2. WON the withdrawal of Misa dissolved the partnership regardless of his good or bad faith;

    Held:
    1. Yes. The partnership agreement of the firm provides that ”[t]he partnership shall continue so long as
    mutually satisfactory and upon the death or legal incapacity of one of the partners, shall be continued
    by the surviving partners.”
    2. Yes. Any one of the partners may, at his sole pleasure, dictate a dissolution of the partnership at will
    (e.g. by way of withdrawal of a partner). He must, however, act in good faith, not that the attendance of bad
    faith can prevent the dissolution of the partnership but that it can result in a liability for damages.

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