Section 45. Continuation of partnership beyond fixed term


Latest version.
  • 1. When a
      partnership for a fixed term  or  particular  undertaking  is  continued
      after the termination of such term or particular undertaking without any
      express agreement, the rights and duties of the partners remain the same
      as  they  were  at  such  termination,  so  far  as is consistent with a
      partnership at will.
        2. A continuation of the business by the partners or such of  them  as
      habitually  acted  therein  during  the  term, without any settlement or
      liquidation of the partnership affairs, is prima  facie  evidence  of  a
      continuation of the partnership.