District of Columbia § 29-604.04 Liability for contributions.

District of Columbia Statutes

§ 29-604.04 — Liability for contributions.

District of Columbia § 29-604.04

Title 29Business Organizations. [Enacted title]

Ch. 6General Partnerships.

Subch. IVRelations of Partners to Each Other and to Partnership.

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Bluebook

D.C. Code § 29-604.04 (2026).

Text

(a)A person’s obligation to make a contribution to a partnership is not excused by the person’s death, disability, or other inability to perform personally.

(b)If a person does not fulfill an obligation to make a contribution other than money, the person is obligated at the option of the partnership to contribute money equal to the value of the part of the contribution which has not been made.

(c)The obligation of a person to make a contribution may be compromised only by consent of all partners. If a creditor of a limited liability partnership extends credit or otherwise acts in reliance on an obligation described in subsection (a) of this section, without notice of a compromise under this subsection, the creditor may enforce the obligation.

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(a) A person’s obligation to make a contribution to a partnership is not excused by the person’s death, disability, or other inability to perform personally.

(b) If a person does not fulfill an obligation to make a contribution other than money, the person is obligated at the option of the partnership to contribute money equal to the value of the part of the contribution which has not been made.

(c) The obligation of a person to make a contribution may be compromised only by consent of all partners. If a creditor of a limited liability partnership extends credit or otherwise acts in reliance on an obligation described in subsection (a) of this section, without notice of a compromise under this subsection, the creditor may enforce the obligation.