State Codes and Statutes

Statutes > New-york > Ptr > Article-6 > 67

§  67.  Effect of dissolution on partner's existing liability.  1. The  dissolution of the partnership does not of itself discharge the existing  liability of any partner.    2.  A  partner  is  discharged  from  any  existing   liability   upon  dissolution  of  the  partnership by an agreement to that effect between  himself,  the  partnership  creditor  and  the  person  or   partnership  continuing  the  business;  and  such agreement may be inferred from the  course  of  dealing  between  the  creditor  having  knowledge  of   the  dissolution and the person or partnership continuing the business.    3.  Where  a  person  agrees  to  assume the existing obligations of a  dissolved partnership, the partners whose obligations have been  assumed  shall   be  discharged  from  any  liability  to  any  creditor  of  the  partnership who, knowing  of  the  agreement,  consents  to  a  material  alteration in the nature or time of payment of such obligations.    4.  The  individual property of a deceased partner shall be liable for  those obligations of the partnership incurred while he was a partner and  for which he was liable under section twenty-six  of  this  chapter  but  subject to the prior payment of his separate debts.

State Codes and Statutes

Statutes > New-york > Ptr > Article-6 > 67

§  67.  Effect of dissolution on partner's existing liability.  1. The  dissolution of the partnership does not of itself discharge the existing  liability of any partner.    2.  A  partner  is  discharged  from  any  existing   liability   upon  dissolution  of  the  partnership by an agreement to that effect between  himself,  the  partnership  creditor  and  the  person  or   partnership  continuing  the  business;  and  such agreement may be inferred from the  course  of  dealing  between  the  creditor  having  knowledge  of   the  dissolution and the person or partnership continuing the business.    3.  Where  a  person  agrees  to  assume the existing obligations of a  dissolved partnership, the partners whose obligations have been  assumed  shall   be  discharged  from  any  liability  to  any  creditor  of  the  partnership who, knowing  of  the  agreement,  consents  to  a  material  alteration in the nature or time of payment of such obligations.    4.  The  individual property of a deceased partner shall be liable for  those obligations of the partnership incurred while he was a partner and  for which he was liable under section twenty-six  of  this  chapter  but  subject to the prior payment of his separate debts.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Ptr > Article-6 > 67

§  67.  Effect of dissolution on partner's existing liability.  1. The  dissolution of the partnership does not of itself discharge the existing  liability of any partner.    2.  A  partner  is  discharged  from  any  existing   liability   upon  dissolution  of  the  partnership by an agreement to that effect between  himself,  the  partnership  creditor  and  the  person  or   partnership  continuing  the  business;  and  such agreement may be inferred from the  course  of  dealing  between  the  creditor  having  knowledge  of   the  dissolution and the person or partnership continuing the business.    3.  Where  a  person  agrees  to  assume the existing obligations of a  dissolved partnership, the partners whose obligations have been  assumed  shall   be  discharged  from  any  liability  to  any  creditor  of  the  partnership who, knowing  of  the  agreement,  consents  to  a  material  alteration in the nature or time of payment of such obligations.    4.  The  individual property of a deceased partner shall be liable for  those obligations of the partnership incurred while he was a partner and  for which he was liable under section twenty-six  of  this  chapter  but  subject to the prior payment of his separate debts.

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