§ 7-12-34 - Continuation of partnership beyond fixed term. - Rhode-island Statutes

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Statutes > Rhode-island > Title-7 > Chapter-7-12 > 7-12-34

SECTION 7-12-34

§ 7-12-34 Continuation of partnershipbeyond fixed term. – (a) When a partnership for a fixed term or particular undertaking is continuedafter the termination of the term or particular undertaking without any expressagreement, the rights and duties of the partners remain the same as they wereat the termination, insofar as is consistent with a partnership at will.

(b) A continuation of the business by the partners or thoseof them that habitually acted in the partnership during the term, without anysettlement or liquidation of the partnership affairs, is prima facie evidenceof a continuation of the partnership.

State Codes and Statutes

Statutes > Rhode-island > Title-7 > Chapter-7-12 > 7-12-34

SECTION 7-12-34

§ 7-12-34 Continuation of partnershipbeyond fixed term. – (a) When a partnership for a fixed term or particular undertaking is continuedafter the termination of the term or particular undertaking without any expressagreement, the rights and duties of the partners remain the same as they wereat the termination, insofar as is consistent with a partnership at will.

(b) A continuation of the business by the partners or thoseof them that habitually acted in the partnership during the term, without anysettlement or liquidation of the partnership affairs, is prima facie evidenceof a continuation of the partnership.

State Codes and Statutes

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State Codes and Statutes

Statutes > Rhode-island > Title-7 > Chapter-7-12 > 7-12-34

SECTION 7-12-34

§ 7-12-34 Continuation of partnershipbeyond fixed term. – (a) When a partnership for a fixed term or particular undertaking is continuedafter the termination of the term or particular undertaking without any expressagreement, the rights and duties of the partners remain the same as they wereat the termination, insofar as is consistent with a partnership at will.

(b) A continuation of the business by the partners or thoseof them that habitually acted in the partnership during the term, without anysettlement or liquidation of the partnership affairs, is prima facie evidenceof a continuation of the partnership.