New Jersey Statutes 42:1A-42. Partner’s act after dissolution
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Terms Used In New Jersey Statutes 42:1A-42
- 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.
42. Subject to section 43 of this act, a partnership is bound by a partner’s act after dissolution that:
a. Is appropriate for winding up the partnership business; or
b. Would have bound the partnership under section 13 of this act before dissolution, if the other party to the transaction did not have notice of the dissolution.
L.2000,c.161,s.42.