JOSE MACHUCA, Plaintiff-Appellee, Vs. CHUIDIAN, BUENAVENTURA & CO., Defendants-Appellants.

 JOSE MACHUCA, plaintif-appellee, plaintif-appellee, vs. CHUIDIAN, BUENAVENTURA BUENAVENTURA & CO., e!enants-appella e!enants-appellants. nts. "ACTS:

CHUIDIAN, BUENAVENTURA BUENAVENTURA & CO (defendants) is a regular general artners!i" T!e #riginal artners $ere D"  Telesf#r#  Telesf#r# C!uidian, C!uidian, D#%a Ra'unda Ra'unda C!uidian, D#%a Candelaria Candelaria C!uidian, and D. Ma#ian$ B%enavent%#a "  T!e artners ea! ea! #ntriuted a ertain ertain a'#unt #f #f '#ne t# t!e artners!i"

D#na Ra'unda retired fr#' t!e artners!i #n N#*e'er +-" T!e artners!i suse.uentl $ent int# li.uidati#n (it d#es n#t aear t!at t!e li.uidati#n !as een ter'inated $!en t!is ati#n $as r#ug!t)"

On /anuar +01, D. Ma#ian$ B%enavent%#a  died, !is estate assing  $ill t# !is !ildren, inluding D. Viente B%enavent%#a " In +0, D. Viente B%enavent%#a e2euted e2euted a uli instru'ent in $!i! f#r a *aluale #nsiderati#n !e 3assigns t# D. J$se 'e#vasi$ 'a#ia  " " " a 4- er ent s!are in all t!at 'a e #tained  $!ate*er rig!t in $!ate*er f#r' fr#' t!e li.uidati#n #f t!e artners!i #f C!uidian, Buena*entura & C#", in t!e art ertaining t# !i' in said artners!i"

A suse.uent assign'ent $as 'ade  5aria in fa*#r #f  J$se Ma(%a (n#$ lainti6), $!i! !as een n#ti7ed t# t!e li.uidat#r #f t!e artners!i" T!e li.uidat#r, !#$e*er, delined t# re#rd in t!e ##8s #f t!e artners!i 9a!uas lai' under t!e assign'ent as a redit due t# !i'" Hene, 9a!ua 7led an ati#n t# #'el su! re#rd t# e 'ade, and !e furt!er as8s t!at !e e ad;udiated t# e a redit#r #f t!e artners!i in an a'#unt e.ual t# 4-< #f D" Viente Buena*enturas s!are (t!at !e e i''ediatel gi*en t!e 4-< s!are)"

entitled t# 4-< #f D" Viente Viente Buena*enturas Buena*enturas s!are in t!e artners!i artners!i NO ISSUE: =ON 9a!ua is entitled

HE)D:

A#rding t# lause +0 #f t!e artners!i agree'ent: agree'ent: >u#n t!e diss#luti#n #f t!e #'an, t!e ending #ligati#ns in fa*#r #f #utside arties s!#uld e satis7ed, t!e funds #f t!e 'in#rs /#se and ?ranis# ?ranis# C!uidian s!#uld e ta8en #ut, and after$ards t!e resulting alane #f t!e a#unt@urrent a#unt@urrent #f ea! #ne #f t!#se $!# !ad ut in '#ne s!#uld e aid">

Our #nstruti#n #f t!is lause is t!at it estalis!es a a asis f#r t!e 7nal ad;ust'ent #f t!e a6airs #f t!e artners!i t!at t!at asis is t!at t!e liailities t# n#n#'artners are t# e 7rst dis!arged t!at t!e lai's #f t!e C!uidian 'in#rs are t# e ne2t satis7ed and t!at $!at is due t# t!e reseti*e artners #n a#unt a#unt #f t!eir ad*anes t# t!e 7r' is t# e aid last #f all, lea*ing t!e ulti'ate residue, #f #urse, if t!ere e an, t# e distriuted, a'#ng t!e artners in t!e r##rti#ns in $!i! t!e 'a e entitled t!eret#"

Hene, it f#ll#$s t!at D" Viente Buena*entura, $!#se rig!ts are t!#se #f !is fat!er, is in n# ase entitled t# reei*e an art #f t!e assets until t!e redit#rs, $!# are n#nartners, and t!e C!uidian 'in#rs are aid" =!ate*er rig!ts !e !ad, !e #uld #nl transfer su;et t# t!is #nditi#n" It is lear, fr#' t!e language #f t!e instru'ent under $!i! lainti6 lai's, t!at t!is #nditi#nal interest $as all t!at Viente e*er intended t# transfer"