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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>68306</law_id><section_number>50-73.113</section_number><catch_line>Dissociated partner&amp;#8217;s power to bind partnership</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><referred_to_by><reference>50-73.115</reference><reference>50-73.129</reference></referred_to_by><structure><unit label="title" level="1" order_by="1" identifier="50">Partnerships</unit><unit label="chapter" level="2" order_by="1" identifier="2.2">Virginia Uniform Partnership Act</unit><unit label="article" level="3" order_by="1" identifier="7">Partner's Dissociation When Business Not Wound up</unit></structure><text>
						<section id="A"><p><span class="prefix-number">A.</span> For one year after a partner dissociates without resulting in a dissolution and winding up of the <span class="dictionary">partnership</span> <span class="dictionary">business</span>, the <span class="dictionary">partnership</span>, including a surviving <span class="dictionary">partnership</span> under Article 9, is bound by an act of the dissociated partner which would have bound the <span class="dictionary">partnership</span> under &#xA7;&#xA0;<a class="law" title="Partner agent of partnership" href="/50-73.91/">50-73.91</a> before dissociation only if at the time of entering into the transaction the other <span class="dictionary">party</span>: <a id="paragraph-247109" class="section-permalink" href="https://vacode.org/50-73.113/#A"><i class="fa fa-link"/></a></p></section>
						<section id="A1" class="indent-1"><p><span class="prefix-number">1.</span> Reasonably believed that the dissociated partner was then a partner; <a id="paragraph-247110" class="section-permalink" href="https://vacode.org/50-73.113/#A1"><i class="fa fa-link"/></a></p></section>
						<section id="A2" class="indent-1"><p><span class="prefix-number">2.</span> Did not have notice of the partner&#x2019;s dissociation; and <a id="paragraph-247111" class="section-permalink" href="https://vacode.org/50-73.113/#A2"><i class="fa fa-link"/></a></p></section>
						<section id="A3" class="indent-1"><p><span class="prefix-number">3.</span> Is not deemed to have had knowledge under subsection E of &#xA7; <a class="law" title="Statement of partnership authority" href="/50-73.93/">50-73.93</a> or notice under subsection C of &#xA7; <a class="law" title="Statement of dissociation" href="/50-73.115/">50-73.115</a>. <a id="paragraph-247112" class="section-permalink" href="https://vacode.org/50-73.113/#A3"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> A dissociated partner is liable to the <span class="dictionary">partnership</span> for any damage caused to the <span class="dictionary">partnership</span> arising from an obligation incurred by the dissociated partner after dissociation for which the <span class="dictionary">partnership</span> is liable under subsection A. <a id="paragraph-247113" class="section-permalink" href="https://vacode.org/50-73.113/#B"><i class="fa fa-link"/></a></p></section></text><history>1996, c. 292.</history><metadata></metadata></law>
