(a) Except as otherwise provided in subsection (b) and section 425-117, after dissolution a partner is liable to the other partners for the partner’s share of any partnership liability incurred under section partnership after dissolution” class=”unlinked-ref” datatype=”S” sessionyear=”2019″ statecd=”HI”>425-141.
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Terms Used In Hawaii Revised Statutes 425-143

  • Business: includes every trade, occupation, and profession. See Hawaii Revised Statutes 425-101
  • 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 two or more persons to carry on as co-owners a business for profit formed under § 425-109, a predecessor law, or comparable law of another jurisdiction. See Hawaii Revised Statutes 425-101
(b) A partner who, with knowledge of the dissolution, incurs a partnership liability under section 425-141(2) by an act that is not appropriate for winding up the partnership business is liable to the partnership for any damage caused to the partnership arising from the liability.

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