Continuation of Partnership After Time of Termination

  1. Law
  2. Georgia Code
  3. Corporations, Partnerships, and Associations
  4. Partnerships
  5. Continuation of Partnership After Time of Termination

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  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.

(Code 1981, §14-8-23, enacted by Ga. L. 1984, p. 1439, § 1; Ga. L. 1994, p. 97, § 14.)

RESEARCH REFERENCES

Am. Jur. 2d.

- 59A Am. Jur. 2d, Partnership, § 85 et seq.

C.J.S.

- 68 C.J.S., Partnership, § 87.

ALR.

- Right of one partner to maintain action at law against the other for damages from wrongful dissolutions of firm, 4 A.L.R. 158.

Partnership land as real or personal property for purposes of descent and distribution, 25 A.L.R. 389.

Liability of former partners as such in respect of transactions subsequent to incorporation of their business, 89 A.L.R. 986.

Specific performance of agreement, or provisions thereof, involving partnership at will, 70 A.L.R.2d 618.

Sale or transfer of interest by partner as dissolving partnership, 75 A.L.R.2d 1036.

Construction and application of expulsion provision in partnership agreement between attorneys, 72 A.L.R.3d 1226.


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