56a-406. Continuation of partnership beyond definite term or particular undertaking. - Kansas Statutes

56a-406

Chapter 56a.--KANSAS UNIFORM PARTNERSHIP ACT Article 4.--RELATIONS OF PARTNERS TO EACH OTHER AND TO PARTNERSHIP

      56a-406.   Continuation of partnership beyond definiteterm or particular undertaking.(a) If a partnership for a definite term orparticular 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 wereat the expiration or completion, so far as is consistent with apartnership at will.

      (b)   If the partners, or those of them who habituallyacted in the business during the term or undertaking, continue thebusiness without any settlement or liquidation of the partnership,they are presumed to have agreed that the partnership willcontinue.

      History:   L. 1998, ch. 93, § 25; Jan. 1, 1999.