178.29 Liability of dissolving partner to partners continues until knowledge of dissolution. - Wisconsin Statutes

178.29

178.29 Liability of dissolving partner to partners continues until knowledge of dissolution. If a dissolution is caused by the act, death or bankruptcy of a partner, each partner is liable to the other copartners for the partner's share of any liability created by any partner acting for the partnership as if the partnership had not been dissolved unless any of the following applies:

178.29(1)

(1) The dissolution being by act of any partner, the partner acting for the partnership had knowledge of the dissolution.

178.29(2)

(2) The dissolution being by the death or bankruptcy of a partner, the partner acting for the partnership had knowledge or notice of the death or bankruptcy.

178.29(3)

(3) The liability is for a debt, obligation or liability for which the partner is not liable as provided in s. 178.12 (2).

178.29 - ANNOT.

History: 1993 a. 482; 1995 a. 97.