Colorado § 7-60-136 Effect of dissolution on existing liability

Colorado Statutes

§ 7-60-136 — Effect of dissolution on existing liability

Colorado § 7-60-136

Title 07Corporations

Art.Uniform Partnership Law

This text of Colorado § 7-60-136 (Effect of dissolution on existing liability) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 7-60-136 (2026).

Text

(1)The dissolution of the partnership does not of itself discharge the existing liability of any partner.

(2)A partner is discharged from any existing liability upon dissolution of the partnership by an agreement to that effect between such partner, the partnership creditor, and the person or partnership continuing the business; and such agreement may be inferred from the course of dealing between the creditor having knowledge of the dissolution and the person or partnership continuing the business.

(3)Where a person agrees to assume the existing obligations of a dissolved partnership, the partners whose obligations have been assumed shall be discharged from any liability to any creditor of the partnership who, knowing of the agreement, consents to a material alteration in the

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(1) The dissolution of
the partnership does not of itself discharge the existing liability of any partner.

(2) A partner is discharged from any existing liability upon dissolution of the
partnership by an agreement to that effect between such partner, the partnership
creditor, and the person or partnership continuing the business; and such
agreement may be inferred from the course of dealing between the creditor having
knowledge of the dissolution and the person or partnership continuing the business.

(3) Where a person agrees to assume the existing obligations of a dissolved
partnership, the partners whose obligations have been assumed shall be
discharged from any liability to any creditor of the partnership who, knowing of the
agreement, consents to a material alteration in the nature or time of payment of the
creditor's obligations.

(4) The individual property of a deceased person who was a partner shall be
liable, to the extent the deceased person was or would have been liable under
section 7-60-115, 7-60-118, or 7-60-134, for all obligations of the partnership
incurred while the deceased person was a partner but subject to the prior payment
of the deceased person's separate debts.

Legislative History

Source: L. 31: p. 666, � 36. CSA: C. 123, � 36. CRS 53: � 104-1-36. C.R.S. 1963: � 104-1-36. L. 95: (4) amended, p. 780, � 7, effective May 24. L. 2004: (2), (3), and (4) amended, p. 1428, � 91, effective July 1.