{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/50-73.114.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/50-73.114.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/50-73.114.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/50-73.114.html"}],"law_id":74806,"edition_id":1,"section_id":74806,"structure_id":16425,"section_number":"50-73.114","catch_line":"Dissociated partner’s liability to other persons","history":"1996, c. 292.","full_text":"A\n\nA partner’s dissociation does not of itself discharge the partner’s liability for a partnership obligation incurred before dissociation. A dissociated partner is not liable for a partnership obligation incurred after dissociation, except as otherwise provided in subsection B.B\n\nA partner who dissociates without resulting in a dissolution and winding up of the partnership business is liable as a partner to the other party in a transaction entered into by the partnership, or a surviving partnership under Article 9, within one year after the partner’s dissociation, only if the obligation is one for which he would be liable under \u00a7 50-73.96 if he were a partner and at the time of entering into the transaction the other party:1\n\nReasonably believed that the dissociated partner was then a partner;2\n\nDid not have notice of the partner’s dissociation; and3\n\nIs not deemed to have had knowledge under subsection E of § 50-73.93 or notice under subsection C of § 50-73.115.C\n\nBy agreement with the partnership creditor and the partners continuing the business, a dissociated partner may be released from liability for a partnership obligation.D\n\nA dissociated partner is released from liability for a partnership obligation if a partnership creditor, with notice of the partner’s dissociation but without the partner’s consent, agrees to a material alteration in the nature or time of payment of a partnership obligation.","order_by":null,"text":{"0":{"id":268798,"text":"A partner’s dissociation does not of itself discharge the partner’s liability for a partnership obligation incurred before dissociation. A dissociated partner is not liable for a partnership obligation incurred after dissociation, except as otherwise provided in subsection B.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":268799,"text":"A partner who dissociates without resulting in a dissolution and winding up of the partnership business is liable as a partner to the other party in a transaction entered into by the partnership, or a surviving partnership under Article 9, within one year after the partner’s dissociation, only if the obligation is one for which he would be liable under \u00a7 50-73.96 if he were a partner and at the time of entering into the transaction the other party:","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"B1"},"2":{"id":268800,"text":"Reasonably believed that the dissociated partner was then a partner;","type":"section","prefixes":["B","1"],"prefix":"1","entire_prefix":"B1","prefix_anchor":"B1","level":2,"prior_prefix":"B","next_prefix":"B2"},"3":{"id":268801,"text":"Did not have notice of the partner’s dissociation; and","type":"section","prefixes":["B","2"],"prefix":"2","entire_prefix":"B2","prefix_anchor":"B2","level":2,"prior_prefix":"B1","next_prefix":"B3"},"4":{"id":268802,"text":"Is not deemed to have had knowledge under subsection E of § 50-73.93 or notice under subsection C of § 50-73.115.","type":"section","prefixes":["B","3"],"prefix":"3","entire_prefix":"B3","prefix_anchor":"B3","level":2,"prior_prefix":"B2","next_prefix":"C"},"5":{"id":268803,"text":"By agreement with the partnership creditor and the partners continuing the business, a dissociated partner may be released from liability for a partnership obligation.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B3","next_prefix":"D"},"6":{"id":268804,"text":"A dissociated partner is released from liability for a partnership obligation if a partnership creditor, with notice of the partner’s dissociation but without the partner’s consent, agrees to a material alteration in the nature or time of payment of a partnership obligation.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C"}},"ancestry":[{"id":16425,"edition_id":1,"name":"Partner's Dissociation When Business Not Wound up","identifier":"7","label":"article","depth":3,"order_by":1,"parent_id":12958,"metadata":{},"date_created":"2026-06-26 04:17:28","date_modified":"2026-06-26 04:17:28","permalink":{"id":234867,"object_type":"structure","relational_id":16425,"identifier":"7","token":"50\/2.2\/7","url":"\/50\/2.2\/7\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12958,"edition_id":1,"name":"Virginia Uniform Partnership Act","identifier":"2.2","label":"chapter","depth":2,"order_by":1,"parent_id":12957,"metadata":{},"date_created":"2026-06-26 03:44:04","date_modified":"2026-06-26 03:44:04","permalink":{"id":234691,"object_type":"structure","relational_id":12958,"identifier":"2.2","token":"50\/2.2","url":"\/50\/2.2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12957,"edition_id":1,"name":"Partnerships","identifier":"50","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:44:04","date_modified":"2026-06-26 03:44:04","permalink":{"id":234229,"object_type":"structure","relational_id":12957,"identifier":"50","token":"50","url":"\/50\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":80105,"structure_id":16425,"section_number":"50-73.112","catch_line":"Purchase of dissociated partner's interest","url":"\/50-73.112\/","token":"50\/2.2\/7\/50-73.112","metadata":false},{"id":68306,"structure_id":16425,"section_number":"50-73.113","catch_line":"Dissociated partner's power to bind partnership","url":"\/50-73.113\/","token":"50\/2.2\/7\/50-73.113","metadata":false},{"id":74806,"structure_id":16425,"section_number":"50-73.114","catch_line":"Dissociated partner's liability to other persons","url":"\/50-73.114\/","token":"50\/2.2\/7\/50-73.114","metadata":false},{"id":69228,"structure_id":16425,"section_number":"50-73.115","catch_line":"Statement of dissociation","url":"\/50-73.115\/","token":"50\/2.2\/7\/50-73.115","metadata":false},{"id":80664,"structure_id":16425,"section_number":"50-73.116","catch_line":"Continued use of partnership name","url":"\/50-73.116\/","token":"50\/2.2\/7\/50-73.116","metadata":false}],"previous_section":{"id":68306,"structure_id":16425,"section_number":"50-73.113","catch_line":"Dissociated partner's power to bind partnership","url":"\/50-73.113\/","token":"50\/2.2\/7\/50-73.113","metadata":false},"next_section":{"id":69228,"structure_id":16425,"section_number":"50-73.115","catch_line":"Statement of dissociation","url":"\/50-73.115\/","token":"50\/2.2\/7\/50-73.115","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/50-73.114\/","history_text":"

This law was first created in 1996. The record of its establishment is cataloged in chapter 292<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":[{"id":69228,"section_number":"50-73.115","catch_line":"Statement of dissociation","order_by":null,"url":"\/50-73.115\/"},{"id":74044,"section_number":"50-73.129","catch_line":"Effect of merger","order_by":null,"url":"\/50-73.129\/"}],"refers_to":[{"id":59704,"section_number":"50-73.93","catch_line":"Statement of partnership authority","order_by":null,"url":"\/50-73.93\/"},{"id":78386,"section_number":"50-73.96","catch_line":"Partner's liability","order_by":null,"url":"\/50-73.96\/"}],"permalink":{"id":234877,"object_type":"law","relational_id":74806,"identifier":"50-73.114","token":"50\/2.2\/7\/50-73.114","url":"\/50-73.114\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/50-73.114\/","token":"50\/2.2\/7\/50-73.114","dublin_core":{"Title":"Dissociated partner’s liability to other persons","Type":"Text","Format":"text\/html","Identifier":"\u00a7 50-73.114","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> A partner’s dissociation does not of itself discharge the partner’s liability for a partnership<\/span> obligation incurred before dissociation. A dissociated partner is not liable for a partnership<\/span> obligation incurred after dissociation, except as otherwise provided in subsection B. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> A partner who dissociates without resulting in a dissolution and winding up of the partnership<\/span> business<\/span> is liable as a partner to the other party<\/span> in a transaction entered into by the partnership<\/span>, or a surviving partnership<\/span> under Article 9, within one year after the partner’s dissociation, only if the obligation is one for which he would be liable under \u00a7 50-73.96<\/a> if he were a partner and at the time of entering into the transaction the other party<\/span>: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Reasonably believed that the dissociated partner was then a partner; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Did not have notice of the partner’s dissociation; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Is not deemed to have had knowledge under subsection E of § 50-73.93<\/a> or notice under subsection C of § 50-73.115<\/a>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> By agreement with the partnership<\/span> creditor<\/span> and the partners continuing the business<\/span>, a dissociated partner may be released from liability for a partnership<\/span> obligation. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> A dissociated partner is released from liability for a partnership<\/span> obligation if a partnership<\/span> creditor<\/span>, with notice of the partner’s dissociation but without the partner’s consent, agrees to a material<\/span> alteration in the nature or time of payment of a partnership<\/span> obligation. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nDISSOCIATED PARTNER’S LIABILITY TO OTHER PERSONS (\u00a7 50-73.114)\n\nA. A partner’s dissociation does not of itself discharge the\npartner’s liability for a partnership obligation incurred before\ndissociation. A dissociated partner is not liable for a partnership obligation\nincurred after dissociation, except as otherwise provided in subsection B.\n\nB. A partner who dissociates without resulting in a dissolution and winding up\nof the partnership business is liable as a partner to the other party in a\ntransaction entered into by the partnership, or a surviving partnership under\nArticle 9, within one year after the partner’s dissociation, only if the\nobligation is one for which he would be liable under \u00a7 50-73.96 if he were a\npartner and at the time of entering into the transaction the other party:\n\n 1. Reasonably believed that the dissociated partner was then a partner;\n\n 2. Did not have notice of the partner’s dissociation; and\n\n 3. Is not deemed to have had knowledge under subsection E of § 50-73.93\n or notice under subsection C of § 50-73.115.\n\nC. By agreement with the partnership creditor and the partners continuing the\nbusiness, a dissociated partner may be released from liability for a partnership\nobligation.\n\nD. A dissociated partner is released from liability for a partnership obligation\nif a partnership creditor, with notice of the partner’s dissociation but\nwithout the partner’s consent, agrees to a material alteration in the\nnature or time of payment of a partnership obligation.\n\nHISTORY: 1996, c. 292.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}