Missouri Laws 473.227 – Security
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Terms Used In Missouri Laws 473.227
- Decedent: A deceased person.
- 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.
- Probate: Proving a will
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
If the surviving partner commits waste or if it appears to the court that it is for the best interest of the estate of the decedent, the probate division may order the surviving partner to give security for the faithful settlement of the partnership affairs and the payment to the executor or administrator of any amount due the estate.