48-1-20 - Continuation of partnership beyond fixed term.
48-1-20. Continuation of partnership beyond fixed term.
When a partnership for a fixed term or particular undertaking is continued after thetermination of such term or particular undertaking without any express agreement, the rights andduties of the partners remain the same as they were at such termination so far as is consistent witha partnership at will.
A continuation of the business by the partners, or such of them as habitually acted thereinduring the term, without any settlement or liquidation of the partnership affairs, is prima facieevidence of a continuation of the partnership.
No Change Since 1953