Ohio Code 1776.64 – Partner’s power to bind partnership after dissolution
Current as of: 2023 | Check for updates
|
Other versions
Subject to section 1776.65 of the Revised Code, a partnership is bound by a partner‘s act after dissolution under either of the following conditions:
Terms Used In Ohio Code 1776.64
- Business: includes every trade, occupation, and profession. See Ohio Code 1776.01
- Partner: means a person admitted to a partnership as a partner. See Ohio Code 1776.01
- 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 co-owners a business for-profit formed under section 1776. See Ohio Code 1776.01
(A) The act is appropriate for winding up the partnership business.
(B) If the other party to the transaction did not have notice of the dissolution, the act would have bound the partnership under section 1776.31 of the Revised Code before dissolution.