Missouri § 358.360 - Effect of dissolution of partner's existing liability.
Full text of Missouri Revised Statutes of Missouri § 358.360 — Effect of dissolution of partner's existing liability., with citation guidance and answers to common questions.
§ 358.360. Effect of dissolution of partner's existing liability.
1. The dissolution of the partnership does not of itself 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 himself or herself, the partnership creditor and the person or partnership continuing the business; and such 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. Where 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 such obligations.
4. The individual property of a deceased partner shall be liable for all obligations of the partnership incurred while the partner was a partner and for which the partner was liable under section 358.150, but subject to the prior payment of the partner's separate debts.
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(L. 1949 p. 506 § 36, A.L. 1995 H.B. 558)
---- end of effective 28 Aug 1995 ----
Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 358.360
What does Revised Statutes of Missouri § 358.360 cover?
Section 358.360 ("Effect of dissolution of partner's existing liability.") is part of the Revised Statutes of Missouri, the codified statutory law of Missouri. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Missouri § 358.360?
A common citation format is "Revised Statutes of Missouri § 358.360" (Missouri). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Missouri law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Missouri official source linked on this page or consult a licensed Missouri attorney.
How does Missouri § 358.360 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Missouri can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Missouri.