This section is from the book "Popular Law Library Vol8 Partnership, Private Corporations, Public Corporations", by Albert H. Putney. Also available from Amazon: Popular Law-Dictionary.
When capital is paid in, the partners cannot withdraw it before dissolution; advances made to partners are loans, not withdrawals of capital If a partner fails to pay all of his share of the capital, but a part is accepted and used, and the business launched, he is not liable to be excluded from the partnership, but he will be held bound to pay interest on the amount remaining unpaid.4 And if the losses are to be sustained in proportion to each member's share in the capital, the fact that a member fails to pay in all his capital will not lessen his share of the losses, and so if these losses consume a portion or the whole of the capital of the firm, he must make good his deficiency in capital.5
 
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