Rights of persons dealing with firm against apparent members of firm
41 Rights of persons dealing with firm against apparent members of firm
A person who deals with a firm after a change in its constitution is entitled to treat all apparent members of the old firm as still being members of the firm until the person has notice of the change.
A person who, not having been known to a person dealing with a firm to be a partner in the firm, retires from the firm is not liable for the debts of the firm contracted, after the date of their retirement, with the person so dealing with the firm.
If a person who is a partner in a firm dies, becomes bankrupt, or executes a personal insolvency agreement under the Bankruptcy Act 1966 (Cwlth), the estate of the partner is not liable for the debts of the firm contracted after the date of the death, bankruptcy or executing of the personal insolvency agreement.
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.