Continuing authority of partners for purposes of winding up
38 Continuing authority of partners for purposes of winding up
Subject to this section, after the dissolution of a partnership the authority of each partner to bind the firm, and the other rights and obligations of the partners, continue, notwithstanding the dissolution, so far as may be necessary to wind up the affairs of the partnership, and to complete transactions begun but unfinished at the time of the dissolution, but not otherwise.
The firm is not bound by the acts of an insolvent partner (however this does not affect the liability of a person who, after the insolvency, represents himself or herself, or knowingly suffers himself or herself to be represented, as a partner of the insolvent).
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