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548 PARTNERSHIP. [ART. LXXIIIA
(7) The liability of a third person becoming a partner in the part-
nership continuing the business, under this section to the creditors of
the dissolved partnership shall be satisfied out of partnership property
only.
(8) When the business of a partnership after dissolution is con-
tinued under any conditions set forth in this section the creditors of the
dissolved partnership, as against the separate creditors of the retiring
or deceased partner or the representative of the deceased partner, have
a prior right to any claim of the retired partner or the representative of
the deceased partner against the person or partnership continuing the
business, on account of the retired or deceased partner's interest in the
dissolved partnership or on account of any consideration promised for
such interest or for his right in partnership property.
(9) Nothing in this section shall be held to modify any right of
creditors to set aside any assignment on the ground of fraud.
(10) The use by the person or partnership continuing the business
of the partnership name, or the name of a deceased partner as part
thereof, shall not of itself make the individual property of the deceased
partner liable for any debts contracted by such person or partnership.
1916, ch. 175, sec. 42.
42. (RIGHTS OF RETIRING OR ESTATE OF DECEASED PARTNER
WHEN THE BUSINESS IS CONTINUED.) When any partner retires or
dies, and the business is continued under any of the conditions set forth
in section 41 (1, 2, 3, 5, 6), or section 38 (2b), without any settlement
of accounts as between him or his estate and the person or partnership
continuing the business, unless otherwise agreed, he or his legal repre-
sentative as against such persons or partnership may have the value of
his interest at the date of dissolution ascertained, and shall receive as
an ordinary creditor an amount equal to the value of his interest in the
dissolved partnership with interest, or, at his option or at the option of
his legal representative, in lieu of interest, the profits attributable to the
use of his right in the property of the dissolved partnership; provided
that the creditors of dissolved partnership as against the separate cred-
itors, or the representative of the retired or deceased partner, shall have
priority on any claim arising under this section, as provided by section
41 (8) of this article.
1916, ch. 175. sec. 43.
43. (ACCRUAL OF ACTIONS.) The right to an account of his inter-
est shall accrue to any partner, or his legal representative, as against
the winding up partners or the surviving partners or the person or part-
nership continuing the business, at the date of dissolution, in the absence
of any agreement to the contrary.*
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* Section 2 of the act of 1916, chapter 175, provides for the repeal of all acts or
parts of acts inconsistent with said act of 1916.
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