Page:United States Statutes at Large Volume 76.djvu/684

 636

PUBLIC LAW 87-709-SEPT. 27, 1962

[76 STAT.

Public Law 87-709 September 27, 1962

^jj ACT

'•—'•

To provide for the formation of partnerships in the District of Columbia and to make uniform the law with respect thereto.

D. c. ne^^hip'Act!"*

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,, That this Act to provide for the formation of partnerships in the District of Columbia and to make uniform the law with respect thereto shall be in effect in the District of Columbia on and after the date of the enactment of this Act. PART I PRELIMINARY PROVISIONS

SECTION 1. NAME OF ACT.—This Act may be cited as the "Uniform

Partnership Act". SEC. 2. DEFINITION OF TERMS.—In this Act, "court" includes every court and judge having jurisdiction in the case. "Business" includes every trade, occupation, or profession. "Person" includes individuals, partnerships, corporations, and other associations. "Bankrupt" includes bankrupt under the Federal Bankruptcy Act or insolvent under any law of the District of Columbia. "Conveyance" includes every assignment, lease, mortgage, or encumbrance. "Eeal property" includes land and any interest or estate in land. SEC. 3. INTERPRETATION OF KNOWLEDGE AND NOTICE.—(1) A person has "knowledge" of a fact within the meaning of this Act not only when he has actual knowledge thereof, but also when he has knowledge of such other facts as in the circumstances show bad faith. (2) A person has "notice" of a fact within the meaning of this Act when the person who claims the benefit of the notice— (a) states the fact to such person, or (b) delivers through the mail, or by other means of communication, a written statement of the fact to such person or to a proper person at his place of business or residence. SEC. 4. RULES OF CONSTRUCTION.—(1) -The rule that statutes in derogation of the common law are to be strictly construed shall have no application to this Act. (2) The law of estoppel shall apply under this Act. (3) The law of agency shall apply under this Act. (4) This Act shall be so interpreted and construed as to effect its general purpose to make uniform the law of those jurisdictions which enact it. (5) This Act shall not be construed so as to impair the obligations of any contract existing when the Act goes into effect, nor to affect any action or proceedings begun or right accrued before this Act takes effect. SEC. 6. RULES FOR CASES NOT PROVIDED FOR I N T H I S ACT. — I n any case not provided for in this Act the rules of law and equity, including the law merchant, shall govern. PART II NATURE OF A PARTNERSHIP

SEC. 6. PARTNERSHIP DEFINED.—(1) A partnership is an association

of two or more persons to carry on as coowners a business for profit. (2) But any association formed under any other statute of this jurisdiction, or any statute adopted by authority, other than the au-

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