N.Y. PTR Law § 45
This is the official text of N.Y. PTR Law § 45, part of New York’s PTR Law — part of the compiled statutory law of New York, published by the state as "PTR Law." Browse the sections below, each linked to its official government source.
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Continuation of partnership beyond fixed term
Official statutory text
§ 45. Continuation of partnership beyond fixed term. 1. When a\npartnership for a fixed term or particular undertaking is continued\nafter the termination of such term or particular undertaking without any\nexpress agreement, the rights and duties of the partners remain the same\nas they were at such termination, so far as is consistent with a\npartnership at will.\n 2. A continuation of the business by the partners or such of them as\nhabitually acted therein during the term, without any settlement or\nliquidation of the partnership affairs, is prima facie evidence of a\ncontinuation of the partnership.\n
Status: in_force · Read it on the official government site
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