The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
004
:
RELATIONS OF PARTNERS TO EACH OTHER AND TO PARTNERSHIP
(Cite as: 11 V.S.A. § 3236)
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§ 3236. Continuation of partnership beyond definite term or particular undertaking
(a) If a partnership for a definite term or particular undertaking is continued, without
an express agreement, after the expiration of the term or completion of the undertaking,
the rights and duties of the partners remain the same as they were at the expiration
or completion, so far as is consistent with a partnership at will.
(b) If the partners, or those of them who habitually acted in the business during the
term or undertaking, continue the business without any settlement or liquidation of
the partnership, they are presumed to have agreed that the partnership will continue. (Added 1997, No. 149 (Adj. Sess.), § 1, eff. Jan. 1, 1999.)