Acts Exceeding the Corporate Purpose of the CLP - Management - CLP/SCS IX - #352-341*

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The common limited partnership (CLP - société en commandite simple) will be bound by the acts performed by the managers even if these acts go beyond the partnership purpose. However, the partnership will not be bound, if it proves that the third party concerned by the said act: 

  1. knew that this act exceeded the company's purpose; or that he 

  2. could not have been unaware of it in the circumstances.

The above principle is not unique to the CLP.

References : Articles 310-2, §5 and 6 of the law of 10 August 1915 on commercial companies as amended; Restrictions to the Powers of Managers’ in the Partnership Agreement of a CLP #351-340* - CLP / SCS VIII, Bertrand Mariaux.

*Podcast #352

*YouTube Video 341* 

Bertrand Mariaux, Avocat à la Cour, LL.M. (hons.)

Prestation de serment (Swearing-in oath): Luxembourg (2011), Certificat d’Aptitude à la Profession d’Avocat, École de Formation professionnelle des Barreaux de la Cour d’appel de Paris (2009), Bond University (LL.M. (distinct.), International Legal Practice, 2010), Université Sorbonne Paris Nord & University of Limerick (Master in European & International Law - major in economics, 2008), certified Expert in Microfinance (Frankfurt School of Finance & Management, 2015), social entrepreneurship (University of Oxford, 2015 & The Wharton School of Social Policy & Practice, 2014) and social & solidarity economy (International Labour Organization Academy - Social & Solidarity Economy, Organisation Internationale du Travail - Économie Sociale et Solidaire, 2017)

Contributor: Cédric Buisine, Avocat