Delaware Code Title 6 Sec. 15-804 – Partner’s power to bind partnership after dissolution
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Subject to § 15-805 of this title, a partnership is bound by a partner‘s act after dissolution that:
(1) Is appropriate for winding up the partnership business or affairs; or
(2) Would have bound the partnership under § 15-301 of this title before dissolution, if the other party to the transaction did not have notice of the dissolution.
Terms Used In Delaware Code Title 6 Sec. 15-804
- Business: includes every trade, occupation and profession, the holding or ownership of property and any other activity for profit. See Delaware Code Title 6 Sec. 15-101
- Partner: means a person who is admitted to a partnership as a partner of the partnership. See Delaware Code Title 6 Sec. 15-101
- 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.
- Partnership: means an association of 2 or more persons formed under § 15-202 of this title, predecessor law or comparable law of another jurisdiction to carry on any business, purpose or activity. See Delaware Code Title 6 Sec. 15-101