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PARTNERSHIP. 2335
either alone or with others, and without liquidation of the partnership
affairs, creditors of the dissolved partnership are also creditors of the per-
son or partnership continuing the business.
(6) When a partner is expelled and the remaining partners continue
the business either alone or with others, without liquidation of the part-
nership affairs, creditors of the dissolved partnership are also creditors of
the person or partnership continuing the business.
(7) The liability of a third person becoming a partner in the partner-
ship continuing the business, under this section to the creditors of the dis-
solved partnership shall be satisfied out of partnership property only.
(8) When the business of a partnership after dissolution is continued
under any conditions set forth in this section the creditors of the dis-
solved partnership, as against the separate creditors of the retiring or de-
ceased partner or the representative of the deceased partner, have a prior
right to any claim of the retired partner or the representative of the de-
ceased 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 cred-
itors 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.
An. Code, sec. 42. 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 representative 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 dis-
solved partnership as against the separate creditors, 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.
An. Code, sec. 43. 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 partner-
ship continuing the business, at the date of dissolution, in the absence of
any agreement to the contrary.1
1 Sec. 2 of act of 1916, ch. 175, provides for repeal of all acts or parts of acts inconsistent
with said act of 1916.
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