Montana Code 35-10-623. Continued use of partnership name
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35-10-623. Continued use of partnership name. Continued use of a partnership name or a dissociated partner’s name as part of the partnership by the partners continuing the business does not of itself make the dissociated partner liable for an obligation of the partners or the partnership continuing the business.
Terms Used In Montana Code 35-10-623
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- 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.