Arizona Laws 29-1074. Partner’s power to bind partnership after dissolution
Current as of: 2023 | Check for updates
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Subject to section 29-1075, a partnership is bound by a partner‘s act after dissolution that either:
Terms Used In Arizona Laws 29-1074
- Business: includes every trade, occupation and profession. See Arizona Laws 29-1001
- Partner: means a general partner and, for purposes of article 9 of this chapter, both a general partner and a limited partner. See Arizona Laws 29-1001
- Partnership: means an association or entity formed under section 29-1012, a predecessor law or a comparable law of another jurisdiction. See Arizona Laws 29-1001
- 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.
1. Is appropriate for winding up the partnership business.
2. Would have bound the partnership under section 29-1021 before dissolution, if the other party to the transaction did not have notice of the dissolution.