North Dakota Code 45-20-04 – (804) Partner’s power to bind partnership after dissolution
Current as of: 2023 | Check for updates
|
Other versions
Subject to section 45-20-05, a partnership is bound by a partner’s act after dissolution which:
Terms Used In North Dakota Code 45-20-04
- 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: includes a limited liability partnership registered under chapter 45-22. See North Dakota Code 1-01-49
1. Is appropriate for winding up the partnership business; or
2. Would have bound the partnership under section 45-15-01 before dissolution, if the other party to the transaction did not have notice of the dissolution.