California Corporations Code 16804 – Subject to Section 16805, a partnership is bound by a partner’s act …
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Subject to Section 16805, a partnership is bound by a partner’s act after dissolution that is either of the following:
(1) Appropriate for winding up the partnership business.
Terms Used In California Corporations Code 16804
- Business: includes every trade, occupation, and profession. See California Corporations Code 16101
- 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.
- Partnership: means an association of two or more persons to carry on as coowners a business for profit formed under Section 16202, predecessor law, or comparable law of another jurisdiction, and includes, for all purposes of the laws of this state, a registered limited liability partnership, and excludes any partnership formed under Chapter 4. See California Corporations Code 16101
(2) Would have bound the partnership under Section 16301 before dissolution, if the other party to the transaction did not have notice of the dissolution.
(Added by Stats. 1996, Ch. 1003, Sec. 2. Effective January 1, 1997.)