Article 34 - Winding up by Partners
(1) if a
Partnership breaks up, it may be wound up under this Article by one or
more of the Partners.
(2) Subsection (3) applies if, after the break up, there are two or more
Partnership Business may be carried on:
(A) if the
Partners agree that it should be carried on; and
(B) so far as is necessary for the beneficial winding up of the
(4) Otherwise, the authority of a
Partner to bind the Partnership continues so far
as is necessary to:
(A) wind up the
(B) complete any transactions begun but unfinished at the time of the break up.
(5) It is a
Default Rule that differences about other matters connected with the
winding up of the Partnership under this Article may be decided by a majority
of the Partners.
(6) An agreement under subsection (3) may confer authority on one or more of the
Partners for the purpose of carrying on the Partnership Business in
accordance with that subsection.