COMENDAM

1 definition found

From Bouvier's Law Dictionary, Revised 6th Ed (1856) [bouvier]:

  COMENDAM, eccles. law. When a benefice or church living is void or vacant, 
  it is commended to the. care of some sufficient clerk to be supplied, until 
  it can be supplied with a pastor. He to whom the church is thus commended is 
  said to hold in commendam, and he is entitled to the profits of the living. 
  Rob. 144; Latch, 236. 
       2. In Louisiana, there is a species of limited partnership called a 


  partnership in commendam. It is formed by a contract, by which one person or 
  partnership agrees to furnish another person or partnership a certain 
  amount, either in property or money, to be employed by the person or 
  partnership to whom it is furnished, in his or their own name or firm, on 
  condition of receiving a share in the profits, in the proportion determined 
  by the contract, and of being liable to losses and expenses, to the amount 
  furnished, and no more. Civ. Code of Lo. 2810. A similar partnership exists 
  in France. Code de Comm. 26, 33; Sirey, tom. 12, part 2, p. 25. He who makes 
  this contract is called in respect to those to whom he makes the advance of 
  capital, a partner in commendam. Civ. Code of Lo. art. 2811.