Tennessee § 61-1-702 - Dissociated partner's power to bind and liability to partnership.
Full text of Tennessee Tennessee Code Annotated § 61-1-702 — Dissociated partner's power to bind and liability to partnership., with citation guidance and answers to common questions.
§ 61-1-702. Dissociated partner's power to bind and liability to partnership.
For one (1) year after a partner dissociates without resulting in a dissolution and winding up of the partnership business, the partnership, including a surviving partnership under part 9 of this chapter, is bound by an act of the dissociated partner which would have bound the partnership under § 61-1-301 before dissociation only if at the time of entering into the transaction the other party: Reasonably believed that the dissociated partner was then a partner; Did not have notice of the partner's dissociation; and Is not deemed to have had knowledge under § 61-1-303(d) or notice under § 61-1-704(c). A dissociated partner is liable to the partnership for any damage caused to the partnership arising from an obligation incurred by the dissociated partner after dissociation for which the partnership is liable under subsection (a). Acts 2001, ch. 353.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 61-1-702
What does Tennessee Code Annotated § 61-1-702 cover?
Section 61-1-702 ("Dissociated partner's power to bind and liability to partnership.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. 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 Tennessee § 61-1-702?
A common citation format is "Tennessee Code Annotated § 61-1-702" (Tennessee). 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 Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 61-1-702 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee 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 Tennessee.