State Codes and Statutes

Statutes > North-carolina > Chapter_59 > GS_59-65

§59‑65.  Power of partner to bind partnership to third persons afterdissolution; publication of notice of dissolution.

(a)        After dissolution apartner can bind the partnership except as provided in subsection (c)

(1)        By any actappropriate for winding up partnership affairs or completing transactionsunfinished at dissolution;

(2)        By any transactionwhich would bind the partnership if dissolution had not taken place, providedthe other party to the transaction

a.         Had extended creditto the partnership prior to dissolution and had no knowledge or notice of thedissolution; or

b.         Though he had not soextended credit, had nevertheless known of the partnership prior todissolution, and, having no knowledge or notice of dissolution, the fact ofdissolution had not been published at least once a week for four successiveweeks in some newspaper qualified for legal advertising in each county in whichthe partnership business was regularly carried on, or if no such newspaper ispublished in the county, posted for 30 days at the courthouse and three otherpublic places in the county.

(b)        The liability of apartner under subdivision (a)(2) shall be satisfied out of partnership assetsalone when such partner had been prior to dissolution

(1)        Unknown as a partnerto the person with whom the contract is made; and

(2)        So far unknown andinactive in partnership affairs that the business reputation of the partnershipcould not be said to have been in any degree due to his connection with it.

(c)        The partnership isin no case bound by any act of a partner after dissolution

(1)        Where thepartnership is dissolved because it is unlawful to carry on the business,unless the act is appropriate for winding up partnership affairs; or

(2)        Where the partnerhas become bankrupt; or

(3)        Where the partnerhas no authority to wind up partnership affairs; except by a transaction withone who

a.         Had extended creditto the partnership prior to dissolution and had no knowledge or notice of hiswant of authority; or

b.         Had not extendedcredit to the partnership prior to dissolution, and, having no knowledge ornotice of his want of authority, the fact of his want of authority has not beenadvertised in the manner provided for advertising the fact of dissolution insubdivision (a)(2)b.

(d)        Nothing in thissection shall affect the liability under G.S. 59‑46 of any person whoafter dissolution represents himself or consents to another representing him asa partner in a partnership engaged in carrying on business. (1941,c. 374, s. 35; 1951, c. 381, s. 1.)

State Codes and Statutes

Statutes > North-carolina > Chapter_59 > GS_59-65

§59‑65.  Power of partner to bind partnership to third persons afterdissolution; publication of notice of dissolution.

(a)        After dissolution apartner can bind the partnership except as provided in subsection (c)

(1)        By any actappropriate for winding up partnership affairs or completing transactionsunfinished at dissolution;

(2)        By any transactionwhich would bind the partnership if dissolution had not taken place, providedthe other party to the transaction

a.         Had extended creditto the partnership prior to dissolution and had no knowledge or notice of thedissolution; or

b.         Though he had not soextended credit, had nevertheless known of the partnership prior todissolution, and, having no knowledge or notice of dissolution, the fact ofdissolution had not been published at least once a week for four successiveweeks in some newspaper qualified for legal advertising in each county in whichthe partnership business was regularly carried on, or if no such newspaper ispublished in the county, posted for 30 days at the courthouse and three otherpublic places in the county.

(b)        The liability of apartner under subdivision (a)(2) shall be satisfied out of partnership assetsalone when such partner had been prior to dissolution

(1)        Unknown as a partnerto the person with whom the contract is made; and

(2)        So far unknown andinactive in partnership affairs that the business reputation of the partnershipcould not be said to have been in any degree due to his connection with it.

(c)        The partnership isin no case bound by any act of a partner after dissolution

(1)        Where thepartnership is dissolved because it is unlawful to carry on the business,unless the act is appropriate for winding up partnership affairs; or

(2)        Where the partnerhas become bankrupt; or

(3)        Where the partnerhas no authority to wind up partnership affairs; except by a transaction withone who

a.         Had extended creditto the partnership prior to dissolution and had no knowledge or notice of hiswant of authority; or

b.         Had not extendedcredit to the partnership prior to dissolution, and, having no knowledge ornotice of his want of authority, the fact of his want of authority has not beenadvertised in the manner provided for advertising the fact of dissolution insubdivision (a)(2)b.

(d)        Nothing in thissection shall affect the liability under G.S. 59‑46 of any person whoafter dissolution represents himself or consents to another representing him asa partner in a partnership engaged in carrying on business. (1941,c. 374, s. 35; 1951, c. 381, s. 1.)


State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_59 > GS_59-65

§59‑65.  Power of partner to bind partnership to third persons afterdissolution; publication of notice of dissolution.

(a)        After dissolution apartner can bind the partnership except as provided in subsection (c)

(1)        By any actappropriate for winding up partnership affairs or completing transactionsunfinished at dissolution;

(2)        By any transactionwhich would bind the partnership if dissolution had not taken place, providedthe other party to the transaction

a.         Had extended creditto the partnership prior to dissolution and had no knowledge or notice of thedissolution; or

b.         Though he had not soextended credit, had nevertheless known of the partnership prior todissolution, and, having no knowledge or notice of dissolution, the fact ofdissolution had not been published at least once a week for four successiveweeks in some newspaper qualified for legal advertising in each county in whichthe partnership business was regularly carried on, or if no such newspaper ispublished in the county, posted for 30 days at the courthouse and three otherpublic places in the county.

(b)        The liability of apartner under subdivision (a)(2) shall be satisfied out of partnership assetsalone when such partner had been prior to dissolution

(1)        Unknown as a partnerto the person with whom the contract is made; and

(2)        So far unknown andinactive in partnership affairs that the business reputation of the partnershipcould not be said to have been in any degree due to his connection with it.

(c)        The partnership isin no case bound by any act of a partner after dissolution

(1)        Where thepartnership is dissolved because it is unlawful to carry on the business,unless the act is appropriate for winding up partnership affairs; or

(2)        Where the partnerhas become bankrupt; or

(3)        Where the partnerhas no authority to wind up partnership affairs; except by a transaction withone who

a.         Had extended creditto the partnership prior to dissolution and had no knowledge or notice of hiswant of authority; or

b.         Had not extendedcredit to the partnership prior to dissolution, and, having no knowledge ornotice of his want of authority, the fact of his want of authority has not beenadvertised in the manner provided for advertising the fact of dissolution insubdivision (a)(2)b.

(d)        Nothing in thissection shall affect the liability under G.S. 59‑46 of any person whoafter dissolution represents himself or consents to another representing him asa partner in a partnership engaged in carrying on business. (1941,c. 374, s. 35; 1951, c. 381, s. 1.)