Arizona § 29-1036 Continuation of partnership beyond definite term or particular undertaking

Arizona Statutes

§ 29-1036 — Continuation of partnership beyond definite term or particular undertaking

Arizona § 29-1036

Title 29Arizona Revised Statutes

Ch. 5REVISED UNIFORM PARTNERSHIP ACT

Art. 4Relations of Partners to Each Other and to Partnership

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Bluebook

Ariz. Rev. Stat. Ann. § 29-1036 (2026).

Text

A.If a partnership for a definite term or particular undertaking is continued, without an express agreement, after the expiration of the term or completion of the undertaking, the rights and duties of the partners remain the same as they were at the expiration or completion, as far as is consistent with a partnership at will.

B.If the partners, or those of them who habitually acted in the business during the term or undertaking, continue the business without any settlement or liquidation of the partnership, they are presumed to have agreed that the partnership continue.

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A. If a partnership for a definite term or particular undertaking is continued, without an express agreement, after the expiration of the term or completion of the undertaking, the rights and duties of the partners remain the same as they were at the expiration or completion, as far as is consistent with a partnership at will.

B. If the partners, or those of them who habitually acted in the business during the term or undertaking, continue the business without any settlement or liquidation of the partnership, they are presumed to have agreed that the partnership continue.