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Section 30-23-804 - POWER TO BIND PARTNERSHIP AFTER DISSOLUTION.

ID Code § 30-23-804 (2019) (N/A)
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30-23-804. POWER TO BIND PARTNERSHIP AFTER DISSOLUTION. (a) A partnership is bound by a partner’s act after dissolution which:

(1) Is appropriate for winding up the partnership business; or

(2) Would have bound the partnership under section 30-23-301, Idaho Code, before dissolution, if, at the time the other party enters into the transaction, the other party does not know or have notice of the dissolution.

(b) A person dissociated as a general partner binds a partnership through an act occurring after dissolution if:

(1) At the time the other party enters into the transaction:

(A) Less than two (2) years has passed since the dissociation; and

(B) The other party does not know or have notice of the dissociation and reasonably believes that the person is a partner; and

(2) The act:

(A) Is appropriate for winding up the partnership’s business; or

(B) Would have bound the partnership under section 30-23-301, Idaho Code, before dissolution and at the time the other party enters into the transaction the other party does not know or have notice of the dissolution.

History:

[30-23-804, added 2015, ch. 243, sec. 30, p. 831.]

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Section 30-23-803 - RESCINDING DISSOLUTION.
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Section 30-23-805 - LIABILITY AFTER DISSOLUTION OF PARTNER AND PERSON DISSOCIATED AS GENERAL PARTNER.