The Commercial Code for the German Empire

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A manager may, to the same extent, represent the co-ownership in legal proceedings.
He may appoint and dismiss the captain; the captain must submit to his order and not to those of the other co-owners.
A manager may not, without being specially authorized, render the co-owners or certain of them liable on bills of exchange, nor borrow nor sell the ship or shares of the ship, nor give it in pledge, nor insure it in whole or in part.
^rt. 494. — Through any legal act which a manager as such has c
...oncluded within the limits of his authority, a co-ownership acquires rights and incurs obliga- tions if the act has been concluded without reference to any special co-owners.
When co-owners have contracted an obligation by virtue of a transaction concluded by their manager.
202 THE COMMERCIAL CODE such co-o-wners are bound to exactly the same extent as if they had concluded the transaction them- selves.
Art. 495. — A co-ownership can only maintain against a third person the restrictions or authority mentioned in art.


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