Statute · New York Partnership Law
N.Y. P'ship Law § 45 — Continuation of partnership beyond fixed term
N.Y. P'ship Law § 45
- Type
- Statute
- Source
- New York Partnership Law
- Jurisdiction
- New York
- Current through
- Nov 4, 2026 (NY Senate Open Legislation)
§ 45. Continuation of partnership beyond fixed term. 1. When a partnership for a fixed term or particular undertaking is continued after the termination of such term or particular undertaking without any express agreement, the rights and duties of the partners remain the same as they were at…
Citator
N.Y. P'ship Law § 45 — Continuation of partnership beyond fixed term is in force in the current edition of the Code, and nothing recorded condemns it.
§ 45. Continuation of partnership beyond fixed term. 1. When a partnership for a fixed term or particular undertaking is continued after the termination of such term or particular undertaking without any express agreement, the rights and duties of the partners remain the same as they were at such termination, so far as is consistent with a partnership at will.
2. A continuation of the business by the partners or such of them as habitually acted therein during the term, without any settlement or liquidation of the partnership affairs, is prima facie evidence of a continuation of the partnership.