Iowa § 486A.406 Continuation of partnership beyond definite term or particular undertaking

Iowa Statutes

§ 486A.406 — Continuation of partnership beyond definite term or particular undertaking

Iowa § 486A.406

Title XIIBUSINESS ENTITIES

Ch. 486AUNIFORM PARTNERSHIP ACT

This text of Iowa § 486A.406 (Continuation of partnership beyond definite term or particular undertaking) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Iowa Code § 486A.406 (2026).

Text

1.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 rightsanddutiesofthepartnersremainthesameastheywereattheexpirationorcompletion, so far as is consistent with a partnership at will.

2.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 will continue.

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1. 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
rightsanddutiesofthepartnersremainthesameastheywereattheexpirationorcompletion,
so far as is consistent with a partnership at will.
2. 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 will continue.