After dissolution a partner can bind the partnership, except as provided in Section 33-41-990. (1) By any act appropriate for winding up 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 (a) had extended credit to the partnership prior to the dissolution and had no knowledge or notice of the dissolution or (b) 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. HISTORY: 1962 Code Section 52-67; 1952 Code Section 52-67; 1950 (46) 1841.
South Carolina Legal Code