Delaware Code
6 Del. C. § 15-408 (2026)
Remedies for breach of partnership agreement
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A partnership agreement may provide that (i) a partner who fails to perform in accordance with, or to comply with the terms and conditions of, the partnership agreement shall be subject to specified penalties or specified consequences, and (ii) at the time or upon the happening of events specified in the partnership agreement, a partner shall be subject to specified penalties or specified consequences. Such specified penalties or specified consequences may include and take the form of any penalty or consequence set forth in § 15-207(b) of this title.
72 Del. Laws, c. 151, § 1; 72 Del. Laws, c. 390, § 17; 73 Del. Laws, c. 85, § 11;Notes of Decisions
Cited in 2
cases (2 in the last 5 years), 2021–2024 · leading case: In re Cellular Tel., No. 6885-VCL (Del. Ch. Sept. 28, 2021).
In re Cellular Tel., No. 6885-VCL (Del. Ch. Sept. 28, 2021). “6 Del. C. § 15-408. The statutory language expressly permits the contractually designated remedies to include “specified penalties or specified consequences,” including “any penalty or consequence set forth in § 15-207(b).”
Cantor Fitzgerald, L.P. v. Ainslie, 312 A.3d 674 (Del. 2024). “28, 2021) (discussing that DRUPA, 6 Del. C. § 15-408, which mirrors 6 Del. C.”
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