1934

LAWS OF MARYLAND

[Ch. 311

PARTNERSHIP AFFAIRS OR COMPLETING TRANSACTIONS UNFINISHED
AT DISSOLUTION; OR

(2) BY ANY TRANSACTION WHICH WOULD BIND THE
PARTNERSHIP IF DISSOLUTION HAD NOT TAKEN PLACE, PROVIDED
THE OTHER PARTY TO THE TRANSACTION:

(I)   HAD EXTENDED CREDIT TO THE PARTNERSHIP
PRIOR TO DISSOLUTION AND HAD NO KNOWLEDGE OR NOTICE OF
THE DISSOLUTION; OR

(II)   THOUGH HE HAD NOT SO EXTENDED CREDIT,
HAD NEVERTHELESS KNOWN OF THE PARTNERSHIP PRIOR TO
DISSOLUTION, AND, HAVING NO KNOWLEDGE OR NOTICE OF
DISSOLUTION, THE FACT OF DISSOLUTION HAD NOT BEEN
ADVERTISED IN A NEWSPAPER OF GENERAL CIRCULATION IN THE
PLACE, OR IN EACH PLACE IF MORE THAN ONE, AT WHICH THE
PARTNERSHIP BUSINESS WAS REGULARLY CARRIED ON.

(B) THE LIABILITY OF A PARTNER UNDER SUBSECTION (A)
(2) OF THIS SECTION SHALL BE SATISFIED OUT OF PARTNERSHIP
ASSETS ALONE WHEN THE PARTNER HAD BEEN PRIOR TO
DISSOLUTION:

(1)    UNKNOWN AS A PARTNER TO THE PERSON WITH
WHOM THE CONTRACT IS MADE; AND

(2)    SO FAR UNKNOWN AND INACTIVE IN
PARTNERSHIP AFFAIRS THAT THE BUSINESS REPUTATION OF THE
PARTNERSHIP COULD NOT BE SAID TO HAVE BEEN IN ANY DEGREE
DUE TO HIS CONNECTION WITH IT.

(C) THE PARTNERSHIP IS IN NO CASE BOUND BY ANY ACT
OF A PARTNER AFTER DISSOLUTION:

(1)     WHERE THE PARTNERSHIP IS DISSOLVED
BECAUSE IT IS UNLAWFUL TO CARRY ON THE BUSINESS, UNLESS
THE ACT IS APPROPRIATE FOR WINDING UP PARTNERSHIP
AFFAIRS; OF

(2)   WHERE THE PARTNER HAS BECOME BANKRUPT; OR

(3) WHERE THE PARTNER HAS NO AUTHORITY TO
WIND UP PARTNERSHIP AFFAIRS, EXCEPT BY A TRANSACTION WITH
ONE WHO:

(I)    HAD EXTENDED CREDIT TO THE PARTNERSHIP PRIOR
TO DISSOLUTION AND HAD NO KNOWLEDGE OR NOTICE OF HIS WANT
OF AUTHORITY; OR

(II)    HAD NOT EXTENDED CREDIT TO THE PARTNERSHIP
PRIOR TO DISSOLUTION, AND, HAVING NO KNOWLEDGE OR NOTICE
OF HIS WANT OF AUTHORITY, THE FACT OF HIS WANT OF
AUTHORITY HAS NOT BEEN ADVERTISED IN THE MANNER PROVIDED