Alaska Statutes 32.06.705 – Continued use of partnership name
Current as of: 2023 | Check for updates
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Terms Used In Alaska Statutes 32.06.705
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
Continued use of a partnership name, or of a dissociated partner’s name as part of a partnership name, by partners continuing the business does not by itself make the dissociated partner liable for an obligation of the partners or the partnership continuing the business.