liquidating partner

liquidating partner
A partner who accomplishes or participates in the liquidation of the firm. Garretson v Brown, 185 Pa 447, 452, 40 A 293. Under the provisions of the Uniform Partnership Act, unless otherwise agreed, the partners who have not wrongfully dissolved the partnership or the legal representative of the last surviving partner, not bankrupt, has the right to wind up the partnership affairs, provided, however, that any partner, his legal representative or his assigneee, upon cause shown may obtain winding up by the court. Uniform Partnership Act § 37.

Ballentine's law dictionary. . 1998.

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