(a) The dissolution of the partnership does not of itself discharge the existing liability of any partner.
(b) A partner is discharged from any existing liability upon dissolution of the partnership by an agreement to that effect between himself, the partnership creditor and the person or partnership continuing the business; and such agreement may be inferred from the course of dealing between the creditor having knowledge of the dissolution and the person or partnership continuing the business.
(c) Where a person agrees to assume the existing obligations of a dissolved partnership, the partners whose obligations have been assumed shall be discharged from any liability to any creditor of the partnership who, knowing of the agreement, consents to a material alteration in the nature or time of payment of such obligations.
(d) The individual property of a deceased partner shall be liable for all obligations of the partnership incurred while he was a partner but subject to the prior payment of his separate debts. (1941, c. 374, s. 36.)
Notes of Decisions
Cited in
3
cases, 1975–1991 · leading case:
Baker v. Rushing, 409 S.E.2d 108 (N.C. Ct. App. 1991).
Baker v. Rushing, 409 S.E.2d 108 (N.C. Ct. App. 1991).
· cites it 3× “Crane at § 79; see also N.C.G.S. § 59-66(a) (1989) (dissolution does not of itself discharge the existing liability of any partner).”
Econo-Travel Motor Hotel Corp. v. Taylor, 262 S.E.2d 869 (N.C. Ct. App. 1980).
· cites it 3× “” G.S. 59-66(a). However, under G.S. 59-66(b), “[a] partner is discharged from an existing liability upon dissolution of the partnership by an agreement to that effect between himself, the partnership creditor and the person or partnership continuing the business.”
Longley Supply Co. of New Bern, Inc. v. Styron, 214 S.E.2d 777 (N.C. Ct. App. 1975).
“Under G.S. 59-66(a), the dissolution of a partnership does not of itself discharge the existing liability of any partner and absent an agreement under G.”
— N.C. Gen. Stat. § 59-66(a) — 3 cases
Baker v. Rushing, 409 S.E.2d 108 (N.C. Ct. App. 1991).
“Crane at § 79; see also N.C.G.S. § 59-66(a) (1989) (dissolution does not of itself discharge the existing liability of any partner).”
Econo-Travel Motor Hotel Corp. v. Taylor, 262 S.E.2d 869 (N.C. Ct. App. 1980).
“” G.S. 59-66(a). However, under G.S. 59-66(b), “[a] partner is discharged from an existing liability upon dissolution of the partnership by an agreement to that effect between himself, the partnership creditor and the person or partnership continuing the business.”
Longley Supply Co. of New Bern, Inc. v. Styron, 214 S.E.2d 777 (N.C. Ct. App. 1975).
“Under G.S. 59-66(a), the dissolution of a partnership does not of itself discharge the existing liability of any partner and absent an agreement under G.”
— N.C. Gen. Stat. § 59-66(b) — 1 case
Econo-Travel Motor Hotel Corp. v. Taylor, 262 S.E.2d 869 (N.C. Ct. App. 1980).
“” G.S. 59-66(a). However, under G.S. 59-66(b), “[a] partner is discharged from an existing liability upon dissolution of the partnership by an agreement to that effect between himself, the partnership creditor and the person or partnership continuing the business.”
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