Nevada § 87.360 - Effect of dissolution on partner's existing liability
Full text of Nevada Nevada Revised Statutes § 87.360 — Effect of dissolution on partner's existing liability, with citation guidance and answers to common questions.
§ 87.360. Effect of dissolution on 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 the partner, the partnership creditor and the
person or partnership continuing the business. Such an 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 are 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 is liable for all obligations of
the partnership incurred while the deceased partner was a partner and for which the
deceased partner was liable under NRS 87.150 , but is subject to the prior payment of the deceased partner’s separate debts.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 87.360
What does Nevada Revised Statutes § 87.360 cover?
Section 87.360 ("Effect of dissolution on partner's existing liability") is part of the Nevada Revised Statutes, the codified statutory law of Nevada. 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 Nevada § 87.360?
A common citation format is "Nevada Revised Statutes § 87.360" (Nevada). 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 Nevada law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nevada official source linked on this page or consult a licensed Nevada attorney.
How does Nevada § 87.360 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nevada 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 Nevada.