South Dakota § 48-7A-406 Continuation of partnership beyond definite term or particular undertaking.

South Dakota Statutes

§ 48-7A-406 — Continuation of partnership beyond definite term or particular undertaking.

South Dakota § 48-7A-406

Title 48PARTNERSHIPS

Ch. 48-7UNIFORM PARTNERSHIP ACT

This text of South Dakota § 48-7A-406 (Continuation of partnership beyond definite term or particular undertaking.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 48-7A-406 (2026).

Text

(a)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 rights and duties of the partners remain the same as they were at the expiration or completion, so far as is consistent with a partnership at will.

(b)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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(a) 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 rights and duties of the partners remain the same as they were at the expiration or completion, so far as is consistent with a partnership at will. (b) 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.