Change in firm constitution preserves partners' mutual rights and duties, subject to contract and partnership-at-will adjustments. Where a change in firm constitution occurs, the mutual rights and duties of partners remain as they were immediately before the change, subject to contract and to practicable consistency. If a fixed-term firm carries on business after its term, partners' mutual rights and duties continue but must conform to the incidents of a partnership at will. If a firm formed for particular adventures undertakes others, partners' mutual rights and duties for those additional ventures are the same as for the original ones.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Change in firm constitution preserves partners' mutual rights and duties, subject to contract and partnership-at-will adjustments.
Where a change in firm constitution occurs, the mutual rights and duties of partners remain as they were immediately before the change, subject to contract and to practicable consistency. If a fixed-term firm carries on business after its term, partners' mutual rights and duties continue but must conform to the incidents of a partnership at will. If a firm formed for particular adventures undertakes others, partners' mutual rights and duties for those additional ventures are the same as for the original ones.
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