Short answer. Yes. Article 1796 makes the partnership answerable to each partner not only for disbursed amounts and obligations contracted in good faith, but also for risks incurred as a consequence of managing the partnership's business. So a loss arising simply from managing the business, without a specific expense or contract, is covered.
What the law says
The partnership shall be responsible to every partner for the amounts he may have disbursed on behalf of the partnership and for the corresponding interest, from the time the expense are made; it shall also answer to each partner for the obligations he may have contracted in good faith in the interest of the partnership business, and for risks in consequence of its management.
Civil Code, Article 1796 — Partnership's Reimbursement Duty. Read the full provision →
Three separate obligations the partnership owes a partner
Article 1796 lists three distinct things the partnership owes each partner. It states that the partnership shall be responsible to every partner for the amounts he may have disbursed on behalf of the partnership and for the corresponding interest, from the time the expense are made; it shall also answer to each partner for the obligations he may have contracted in good faith in the interest of the partnership business, and for risks in consequence of its management. Your question is really about that third category, not the first two.
Disbursements and obligations, the first two categories
The first two categories are more straightforward. The partnership must reimburse a partner for amounts actually disbursed on the partnership's behalf, plus interest running from the time the expense was made, and must also answer for obligations a partner contracted in good faith in the interest of the partnership business. Both of these are tied to something specific — an actual expense, or an actual contracted obligation — that a partner can point to directly.
'Risks in consequence of its management' — the third, broader category
The third category is different in kind: risks in consequence of its management. This is not limited to a specific disbursement or a specific contract; it covers losses a partner suffers simply as a consequence of managing the partnership's affairs, even where there was no discrete expense paid out and no specific contractual obligation entered into. The article recognizes that managing a business inherently exposes the person doing the managing to risk, and it makes the partnership answerable for that exposure as its own separate category.
Why this covers losses beyond specific expenses or contracts
That is why your situation — a loss suffered simply from managing the business, without pointing to a particular expense or contract — still falls within Article 1796. The 'risks in consequence of its management' language exists precisely to cover this kind of loss, standing apart from the disbursement and obligation categories that require something more specific. The partnership answers for such risk-based losses as its own recognized head of responsibility toward the managing partner.