§ 59-53. Continuation of partnership beyond fixed term. - North Carolina Statutes

§59‑53.  Continuation of partnership beyond fixed term.

(a)        When a partnershipfor a fixed term or particular undertaking is continued after the terminationof such term or particular undertaking without any express agreement, therights and duties of the partners remain the same as they were at suchtermination, so far as is consistent with a partnership at will.

(b)        A continuation ofthe business by the partners or such of them as habitually acted therein duringthe term, without any settlement or liquidation of the partnership affairs, isprima facie evidence of a continuation of the partnership. (1941,c. 374, s. 23.)