Tennessee Code 61-1-804 – Partner’s power to bind partnership after dissolution
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Subject to § 61-1-805, a partnership is bound by a partner’s act after dissolution that:
Terms Used In Tennessee Code 61-1-804
- Business: means every trade, occupation, and profession and any other activity, including the holding or ownership of property, entered into for profit. See Tennessee Code 61-1-101
- 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 (2) or more persons to carry on as co-owners of a business or other undertaking for profit formed under §. See Tennessee Code 61-1-101