§ 59-66. Effect of dissolution on partner's existing liability.
§59‑66. Effect of dissolution on partner's existing liability.
(a) The dissolution ofthe partnership does not of itself discharge the existing liability of anypartner.
(b) A partner isdischarged from any existing liability upon dissolution of the partnership byan agreement to that effect between himself, the partnership creditor and theperson or partnership continuing the business; and such agreement may beinferred from the course of dealing between the creditor having knowledge ofthe dissolution and the person or partnership continuing the business.
(c) Where a personagrees to assume the existing obligations of a dissolved partnership, thepartners whose obligations have been assumed shall be discharged from anyliability to any creditor of the partnership who, knowing of the agreement,consents to a material alteration in the nature or time of payment of suchobligations.
(d) The individualproperty of a deceased partner shall be liable for all obligations of thepartnership incurred while he was a partner but subject to the prior payment ofhis separate debts. (1941, c. 374, s. 36.)