¹620.735  Effect of dissolution on partner's existing liability.--

(1)  The dissolution of the partnership of itself does not discharge the existing liability of any partner.

(2)  A partner is discharged from any existing liability upon dissolution of the partnership by an agreement to that effect between herself or himself, the partnership creditor and the person or partnership continuing the business. The agreement may be inferred from the course of dealing between the creditor having knowledge of the dissolution and the person or partnership continuing the business.

(3)  When a person agrees to assume the existing obligations of a dissolved partnership, the partners whose obligations have been assumed shall be discharged from any liability to any creditor of the partnership who, knowing of the agreement, consents to a material alteration in the nature or time of payment of the obligations.

(4)  The individual property of a deceased partner shall be liable for all obligations of the partnership incurred while she or he was a partner but subject to the prior payment of her or his separate debts.

History.--s. 36, ch. 72-108; s. 25, ch. 95-242; s. 160, ch. 97-102.