48-1-20. Continuation of partnership beyond fixed term.
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.
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.
No Change Since 1953
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Last revised: Wednesday, October 08, 2008