Indiana Statutes
§ 23-4-1-23 — Continuation of partnership beyond fixed term
(1)When a partnership for a fixed term or
particular undertaking is continued after the termination of such term
or particular undertaking without any express agreement, the rights and
duties of the partners remain the same as they were at such termination,
so far as is consistent with a partnership at will.
(2)A continuation of the business by the partners or such of them
as habitually acted therein during the term, without any settlement or
liquidation of the partnership affairs, is prima facie evidence of a
continuation of the partnership.
Formerly: Acts 1949, c.114, s.23.
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Nearby Sections
15
§ 23-0.5-1-1
Short title§ 23-0.5-1-2
Application§ 23-0.5-1-3
Application; exceptions§ 23-0.5-1-4
Delivery of record§ 23-0.5-1-5
Rules and procedures§ 23-0.5-1-6
Terms dependent on facts ascertainable outside the plan or filed
document; articles of amendment§ 23-0.5-1.5-1
Application of definitions§ 23-0.5-1.5-10
"Filed record"§ 23-0.5-1.5-11
"Filing entity"§ 23-0.5-1.5-12
"Foreign"§ 23-0.5-1.5-13
"General partnership"§ 23-0.5-1.5-14
"Governance interest"§ 23-0.5-1.5-15
"Governing person"§ 23-0.5-1.5-16
"Interest"§ 23-0.5-1.5-17
"Interest holder"