Whenever any copartnership is dissolved, any person who was embraced in the copartnership may make a separate composition or compromise with any one of or all the creditors of the copartnership.
R.I. Gen. Laws § 7-12-4
Separate composition with creditors on dissolution of partnership
Applied in 1 court decision — leading case Schiffer v. United Grocers, Inc. (1999)
Most recently applied in Schiffer v. United Grocers, Inc. (July 1999)
G.L. 1896, ch. 156, § 1; G.L. 1909, ch. 185, § 1; G.L. 1923, ch. 212, § 1; G.L. 1938, ch. 428, § 1; G.L. 1956, § 7-12-4.
Official source: Rhode Island General Assembly. Reproduced from public-domain Rhode Island statutes; confirm against the official source for the current text. Not legal advice.