Wall v. Siegel

Opinion

VOGEL (C. S.), P. J.

This is an appeal from a judgment against two partners for contribution in favor of a third partner on a promissory note signed by all of them to fund the development of a shopping center owned by the partnership. The trial court held that as joint obligors of the note, each partner was liable for a pro rata one-third share, disregarding their respective partnership interests in the partnership’s profits. We reverse and hold that the partners’ liability for contribution is governed by Corporations Code section 15018.

Factual and Procedural Background

On June 30, 1986,…