Maine § 31 §1310 Effect of partnership agreement; nonwaivable provisions

Maine Statutes

§ 31 §1310 — Effect of partnership agreement; nonwaivable provisions

Maine·Title 31 PARTNERSHIPS AND ASSOCIATIONS·Ch. 19 UNIFORM LIMITED PARTNERSHIP ACT

1.Agreement governs; default. Except as otherwise provided in subsection 2, the partnership agreement governs relations among the partners and between the partners and the partnership. It is the policy of this chapter to give maximum effect to the principle of freedom of contract and to the enforceability of partnership agreements. To the extent the partnership agreement does not otherwise provide, this chapter governs relations among the partners and between the partners and the partnership.

2.Nonwaivable provisions. A partnership agreement may not:

3.Implied covenant of good faith and fair dealing. Notwithstanding any other provision of this chapter, there exists, for purposes of this chapter, an implied contractual covenant of good faith and fair dealing in every partnership agreemen

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1.
Agreement governs; default.
Except as otherwise provided in subsection 2, the partnership agreement governs relations among the partners and between the partners and the partnership. It is the policy of this chapter to give maximum effect to the principle of freedom of contract and to the enforceability of partnership agreements. To the extent the partnership agreement does not otherwise provide, this chapter governs relations among the partners and between the partners and the partnership.
2.
Nonwaivable provisions.
A partnership agreement may not:
3.
Implied covenant of good faith and fair dealing.
Notwithstanding any other provision of this chapter, there exists, for purposes of this chapter, an implied contractual covenant of good faith and fair dealing in every partnership agreement which may not be eliminated by the terms of the partnership agreement.

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