§ 79-13-405. Actions by partnership and partners

MS Code § 79-13-405 (2019) (N/A)

Copy with citation

Copy as parenthetical citation

(a) A partnership may maintain an action against a partner for a breach of the partnership agreement, or for the violation of a duty to the partnership, causing harm to the partnership.

(b) A partner may maintain an action against the partnership or another partner for legal or equitable relief, with or without an accounting as to partnership business, to:

(1) Enforce the partner’s rights under the partnership agreement;

(2) Enforce the partner’s rights under this chapter, including:

(i) The partner’s rights under Sections 79-13-401, 79-13-403, or 79-13-404;

(ii) The partner’s right on dissociation to have the partner’s interest in the partnership purchased pursuant to Section 79-13-701 or enforce any other right under Article 6 or 7; or

(iii) The partner’s right to compel a dissolution and winding up of the partnership business under or enforce any other right under Article 8; or

(3) Enforce the rights and otherwise protect the interests of the partner, including rights and interests arising independently of the partnership relationship.

(c) The accrual of, and any time limitation on, a right of action for a remedy under this section is governed by other law. A right to an accounting upon a dissolution and winding up does not revive a claim barred by law.

Previous Section

§ 79-13-404. General standards of partner’s conduct

Next Section

§ 79-13-406. Continuation of partnership beyond definite term or particular undertaking