Legislation
SECTION 45
Continuation of partnership beyond fixed term
Partnership (PTR) CHAPTER 39, ARTICLE 4
§ 45. Continuation of partnership beyond fixed term. 1. When a
partnership for a fixed term or particular undertaking is continued
after the termination of such term or particular undertaking without any
express agreement, the rights and duties of the partners remain the same
as they were at such termination, so far as is consistent with a
partnership at will.
2. A continuation of the business by the partners or such of them as
habitually acted therein during the term, without any settlement or
liquidation of the partnership affairs, is prima facie evidence of a
continuation of the partnership.
partnership for a fixed term or particular undertaking is continued
after the termination of such term or particular undertaking without any
express agreement, the rights and duties of the partners remain the same
as they were at such termination, so far as is consistent with a
partnership at will.
2. A continuation of the business by the partners or such of them as
habitually acted therein during the term, without any settlement or
liquidation of the partnership affairs, is prima facie evidence of a
continuation of the partnership.