Revisor Home

previous nextEffective 28 Aug 1995

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS

  Chapter 358back to chapter 358

  358.360.  Effect of dissolution of partner's existing liability. — 1.  The dissolution of the partnership does not of itself discharge the existing liability of any partner.

  2.  A partner is discharged from any existing liability upon dissolution of the partnership by an agreement to that effect between himself or herself, the partnership creditor and the person or partnership continuing the business; and such agreement may be inferred from the course of dealing between the creditor having knowledge of the dissolution and the person or partnership continuing the business.

  3.  Where a person agrees to assume the existing obligations of a dissolved partnership, the partners whose obligations have been assumed shall be discharged from any liability to any creditor of the partnership who, knowing of the agreement, consents to a material alteration in the nature or time of payment of such obligations.

  4.  The individual property of a deceased partner shall be liable for all obligations of the partnership incurred while the partner was a partner and for which the partner was liable under section 358.150, but subject to the prior payment of the partner's separate debts.

­­--------

(L. 1949 p. 506 § 36, A.L. 1995 H.B. 558)


< end of effective 28 Aug 1995 >

use this link to bookmark section 358.360


In accordance with Section 3.090, the language of statutory sections enacted during a legislative session are updated and available on this website on the effective date of such enacted statutory section. Revisor Home    

Other Information
 Recent Sections Editorials May Be Cited As Tables & Forms Multiple Enact
Repeal & Transfer Definitions

Site changes Contact
Other Links
Oversight Library MO WebMasters
Senate
Missouri Senate
State of Missouri
MO.gov
House
Missouri House
 Errors / suggestions - WebMaster@LR.mo.gov 
Marie Elizabeth Oliver
History and Fun Facts
 ©Missouri Legislature, all rights reserved.
google bing

 14