Common use of Partner's Liability to Partnership For Incurring Inappropriate Liability After Occurrence of Event Requiring Winding Up Clause in Contracts

Partner's Liability to Partnership For Incurring Inappropriate Liability After Occurrence of Event Requiring Winding Up. A Partner who, with notice that an event requiring a winding up has occurred, incurs a Partnership liability under section 10.04(b) by an act that is not appropriate for winding up the Partnership business shall be liable to the Partnership for a loss caused to the Partnership arising from that liability.