362.260 Continuation of partnership beyond fixed term.
91 words·~1 min read·
/ky/chapter-362/362-260A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(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.