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N.C. Gen. Stat. § 59-38

Partnership property

Known as the North Carolina Uniform Partnership Act

The act spans §§ 59–59 (46 sections).

Applied in 3 court decisions — leading case Simmons v. Quick-Stop Food Mart, Inc. (1982)

Most recently applied in Morris Int'l, Inc. v. Packer (October 2020)

1941, c. 374, s. 8.

How often courts cite this section

1982199020002010202010
citing decisions per year

Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.

(a) All property originally brought into the partnership stock or subsequently acquired by purchase or otherwise, on account of the partnership, is partnership property.

(b) Unless the contrary intention appears, property acquired with partnership funds is partnership property.

(c) Any estate in real property may be acquired in the partnership name. Title so acquired can be conveyed only in the partnership name.

(d) A conveyance to a partnership in the partnership name, though without words of inheritance, passes the entire estate of the grantor unless a contrary intent appears.

Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.