reglab/housing_qa huggingface dataset:
CO Code § 7-60-101 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 60 - Uniform Partnership Law|§ 7-60-101. Short Title

 This article shall be known and may be cited as the “Uniform Partnership Law”.   History. Source: L. 31: P. 645, § 1. CSA: C. 123, § 1. CRS 53: § 104-1-1. C.R.S. 1963: § 104-1-1. History. Source: L. 31: P. 645, § 1. CSA: C. 123, § 1. CRS 53: § 104-1-1. C.R.S. 1963: § 104-1-1.    ANNOTATION   Law reviews. For article, “One Year Review of Corporations, Partnership, and Agency”, see 37 Dicta 11 (1960). For article, “Research and Development Tax Shelter Partnerships”, see 11 Colo. Law. 1851 (1982).   The uniform act governs the formation, operation, and dissolution of partnerships and the rights and duties of partners, one to another and to third persons. Mann v. Friden, 132 Colo. 273 , 287 P.2d 961 (1955).   This article governs in a dispute involving a partnership formed before 1998. Adams v. Land Servs., Inc., 194 P.3d 429 (Colo. App. 2008).   Derivative actions not authorized. This act contains no provision analogous to C.R.C.P. 23.1 or § 7-62-1001 that would give a general partner the right to bring a derivative action, absent exceptional circumstances. Adams v. Land Servs., Inc., 194 P.3d 429 (Colo. App. 2008).
CO Code § 7-60-102 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 60 - Uniform Partnership Law|§ 7-60-102. Definitions

 As used in this article, unless the context otherwise requires:    “Bankrupt” includes bankrupt or debtor under the federal bankruptcy code of 1978, title 11 of the United States Code, or insolvent under any state insolvency act.    “Business” includes every trade, occupation, or profession.    “Conveyance” includes every assignment, lease, mortgage, or encumbrance.    “Court” includes every court and judge having jurisdiction in the case.  (4.5) Repealed.  (4.7) “Limited liability partnership” means a partnership that has registered under section 7-60-144 .      Repealed.       “Real property” includes land and any interest or estate in land.    (Deleted by amendment,L. 2004, p. 1421, § 67, effective July 1, 2004.)      History. Source: L. 31: P. 645, § 2. CSA: C. 123, § 2. CRS 53: § 104-1-2. C.R.S. 1963: § 104-1-2. L. 80: (1) amended, p. 782, § 1, June 5. L. 95: (4.5) and (7) added, p. 778, § 1, effective May 24. L. 2003: (4.5)(b) and (5)(b) added by revision, pp. 2356, 2357, §§ 347, 348. L. 2004: (4.7) added and (7) amended, p. 1421, § 67, effective July 1. History. Source: L. 31: P. 645, § 2. CSA: C. 123, § 2. CRS 53: § 104-1-2. C.R.S. 1963: § 104-1-2. L. 80: (1) amended, p. 782, § 1, June 5. L. 95: (4.5) and (7) added, p. 778, § 1, effective May 24. L. 2003: (4.5)(b) and (5)(b) added by revision, pp. 2356, 2357, §§ 347, 348. L. 2004: (4.7) added and (7) amended, p. 1421, § 67, effective July 1.    Editor's note:   Subsections (4.5)(b) and (5)(b) provided for the repeal of subsections (4.5) and (5) respectively, effective July 1, 2004. (See L. 2003, pp. 2356, 2357.)   Cross references:   For additional definitions applicable to this article, see § 7-90-102 .   ANNOTATION   Law reviews. For note, “Corporations -- Investment Clubs”, see 31 Rocky Mt. L. Rev. 358 (1959).   Applied in Frazier v. Carlin, 42 Colo. App. 226, 591 P.2d 1348 (1979).
CO Code § 7-60-103 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 60 - Uniform Partnership Law|§ 7-60-103. Knowledge and Notice

  A person has “knowledge” of a fact within the meaning of this article not only when the person has actual knowledge thereof but also when the person has knowledge of such other facts as in the circumstances show bad faith.    A person has “notice” of a fact within the meaning of this article when the person who claims the benefit of the notice:   States the fact to such person; or    Delivers through the mail or by other means of communication a written statement of the facts to such person or to a proper person at such person or recipient's place of business or residence.        History. Source: L. 31: P. 646, § 3. CSA: C. 123, § 3. CRS 53: § 104-1-3. C.R.S. 1963: § 104-1-3. L. 2004: (1) and (2)(b) amended, p. 1421, § 68, effective July 1. History. Source: L. 31: P. 646, § 3. CSA: C. 123, § 3. CRS 53: § 104-1-3. C.R.S. 1963: § 104-1-3. L. 2004: (1) and (2)(b) amended, p. 1421, § 68, effective July 1.    ANNOTATION   Law reviews. For note, “Corporations -- Investment Clubs”, see 31 Rocky Mt. L. Rev. 358 (1959).
CO Code § 7-60-104 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 60 - Uniform Partnership Law|§ 7-60-104. Rules of Construction

  The rule that statutes in derogation of the common law are to be strictly construed shall have no application to this article.    The law of estoppel shall apply under this article.    The law of agency shall apply under this article.    This article shall be so interpreted and construed as to effect its general purpose to make uniform the law of those states which enact it.    This article shall not be construed so as to impair the obligations of any contract existing prior to April 17, 1931, nor to affect any action or proceedings begun or right accrued before said date.     History. Source: L. 31: P. 646, § 4. CSA: C. 123, § 4. CRS 53: § 104-1-4. C.R.S. 1963: § 104-1-4. History. Source: L. 31: P. 646, § 4. CSA: C. 123, § 4. CRS 53: § 104-1-4. C.R.S. 1963: § 104-1-4.
CO Code § 7-60-105 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 60 - Uniform Partnership Law|§ 7-60-105. Rules for Cases Not Covered

 In any case not provided for in this article, the rules of law and equity, including the law merchant, shall govern.   History. Source: L. 31: P. 647, § 5. CSA: C. 123, § 5. CRS 53: § 104-1-5. C.R.S. 1963: § 104-1-5. History. Source: L. 31: P. 647, § 5. CSA: C. 123, § 5. CRS 53: § 104-1-5. C.R.S. 1963: § 104-1-5.
CO Code § 7-60-111 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 60 - Uniform Partnership Law|§ 7-60-111. Admission of Partner Binds Partnership

 An admission or representation made by any partner concerning partnership affairs within the scope of the partner's authority as conferred by this article is evidence against the partnership.   History. Source: L. 31: P. 651, § 11. CSA: C. 123, § 11. CRS 53: § 104-1-11. C.R.S. 1963: § 104-1-11. L. 2004: Entire section amended, p. 1423, § 73, effective July 1. History. Source: L. 31: P. 651, § 11. CSA: C. 123, § 11. CRS 53: § 104-1-11. C.R.S. 1963: § 104-1-11. L. 2004: Entire section amended, p. 1423, § 73, effective July 1.
CO Code § 7-60-112 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 60 - Uniform Partnership Law|§ 7-60-112. Notice to Partner - Effect

 Notice to any partner of any matter relating to partnership affairs and the knowledge of the partner acting in the particular matter acquired while a partner or then present to the partner's mind and the knowledge of any other partner who reasonably could and should have communicated it to the acting partner operate as notice to or knowledge of the partnership, except in the case of a fraud on the partnership committed by or with the consent of that partner.   History. Source: L. 31: P. 651, § 12. CSA: C. 123, § 12. CRS 53: § 104-1-12. C.R.S. 1963: § 104-1-12. L. 2004: Entire section amended, p. 1423, § 74, effective July 1. History. Source: L. 31: P. 651, § 12. CSA: C. 123, § 12. CRS 53: § 104-1-12. C.R.S. 1963: § 104-1-12. L. 2004: Entire section amended, p. 1423, § 74, effective July 1.    ANNOTATION   Knowledge of one partner concerning the partnership business is knowledge possessed by all the partners. Lee v. Durango Music, 144 Colo. 270 , 355 P.2d 1083 (1960).   When a general partner has knowledge and notice of a matter concerning partnership business, received or acquired while transacting partnership business, that knowledge and notice must generally be imputed to the limited partners. BMS P'ship v. Winter Park Devil's Thumb Inv. Co., 910 P.2d 61 (Colo. App. 1995), aff'd on other grounds, 926 P.2d 1253 (Colo. 1996).   Applied in Spiker v. Hoogeboom, 628 P.2d 177 (Colo. App. 1981); In re Lynch v. Three Ponds Co., 656 P.2d 51 (Colo. App. 1982).
CO Code § 7-60-113 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 60 - Uniform Partnership Law|§ 7-60-113. Partner's Wrongful Acts - Liability

 Where, by any wrongful act or omission of any partner acting in the ordinary course of the business of the partnership or with the authority of the other partners, loss or injury is caused to any person, not being a partner in the partnership, or any penalty is incurred, the partnership is liable therefor to the same intent as the partner so acting or omitting to act.   History. Source: L. 31: P. 652, § 13. CSA: C. 123, § 13. CRS 53: § 104-1-13. C.R.S. 1963: § 104-1-13. L. 2004: Entire section amended, p. 1423, § 75, effective July 1. History. Source: L. 31: P. 652, § 13. CSA: C. 123, § 13. CRS 53: § 104-1-13. C.R.S. 1963: § 104-1-13. L. 2004: Entire section amended, p. 1423, § 75, effective July 1.    ANNOTATION   Law reviews. For note, “Liability of Joint Tortfeasors in Colorado”, see 30 Dicta 176 (1953). For article, “One Year Review of Contracts”, see 34 Dicta 85 (1957).   Knowledge that note is given outside scope of partnership's business precludes recovery. Where one purchases a note from a partner with the knowledge that it is given for a purpose clearly outside of the scope of the partnership's business, he is not entitled to recover as against the partnership or either of the nonsigning partners. King v. Meckleburg, 43 Colo. 316 , 95 P. 951 (1908) (decided prior to the earliest source of § 7-60-113 ).   Applied in Williams v. Burns, 463 F. Supp. 1278 (D. Colo. 1979 ).
CO Code § 7-60-114 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 60 - Uniform Partnership Law|§ 7-60-114. Partner's Breach of Trust - Liability

  The partnership is bound to make good the loss:   Where one partner acting within the scope of such partner's apparent authority receives money or property of a third person and misapplies it; and    Where the partnership in the course of its business receives money or property of a third person and the money or property so received is misapplied by any partner while it is in the custody of the partnership.        History. Source: L. 31: P. 652, § 14. CSA: C. 123, § 14. CRS 53: § 104-1-14. C.R.S. 1963: § 104-1-14. L. 2004: (1)(a) amended, p. 1423, § 76, effective July 1. History. Source: L. 31: P. 652, § 14. CSA: C. 123, § 14. CRS 53: § 104-1-14. C.R.S. 1963: § 104-1-14. L. 2004: (1)(a) amended, p. 1423, § 76, effective July 1.    ANNOTATION   Law reviews. For note, “Liability of Joint Tortfeasors in Colorado”, see 30 Dicta 176 (1953). For article, “One Year Review of Contracts”, see 34 Dicta 85 (1957).   Applied in Frazier v. Carlin, 42 Colo. App. 226, 591 P.2d 1348 (1979).
CO Code § 7-60-116 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 60 - Uniform Partnership Law|§ 7-60-116. Liability of Purported Partner

  If a person, by words or conduct, purports to be a partner or consents to being represented by another as a partner, in a partnership or with one or more persons not partners, the purported partner is liable to a person to whom the representation is made, if that person, relying on the representation, enters into a transaction with the actual or purported partnership. If the representation, either by the purported partner or by a person with the purported partner's consent, is made in a public manner, the purported partner is liable to a person who relies upon the purported partnership even if the purported partner is not aware of being held out as a partner to the claimant. If a partnership obligation results, the purported partner is liable with respect to that obligation as if the purported partner were a partner in the partnership, and, if the partnership is a limited liability partnership, the purported partner's liability is subject to section 7-60-115 (2) as if the purported partner were a partner in the limited liability partnership. If no partnership obligation results, the purported partner is liable with respect to that liability jointly and severally with any other person consenting to the representation.    When a partnership liability results, such person is liable as though the person were an actual member of the partnership; except that, in the case of a limited liability partnership, the person's liability is subject to section 7-60-115 (2).    When no partnership liability results, such person is liable jointly with the other persons, if any, so consenting to the contract or representation as to incur liability, otherwise separately.    When a person has been thus represented to be a partner in an existing partnership or with one or more persons not actual partners, the purported partner is an agent of the persons consenting to such representation to bind them to the same extent and in the same manner as though the purported partner were a partner in fact with respect to persons who rely upon the representation. Where all the members of the existing partnership consent to the representation, a partnership act or obligation results; but in all other cases it is the joint act or obligation of the person acting and the persons consenting to the representation.     History. Source: L. 31: P. 653, § 16. CSA: C. 123, § 16. CRS 53: § 104-1-16. C.R.S. 1963: § 104-1-16. L. 95: (2) amended, p. 779, § 4, effective May 24. L. 2004: (1), (2), and (4) amended, p. 1424, § 78, effective July 1. History. Source: L. 31: P. 653, § 16. CSA: C. 123, § 16. CRS 53: § 104-1-16. C.R.S. 1963: § 104-1-16. L. 95: (2) amended, p. 779, § 4, effective May 24. L. 2004: (1), (2), and (4) amended, p. 1424, § 78, effective July 1.    ANNOTATION   Law reviews. For article, “The Convertible, Participating Mortgage: Planning Opportunities and Legal Pitfalls in Structuring the Transaction”, see 54 U. Colo. L. Rev. 295 (1983).
CO Code § 7-60-117 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 60 - Uniform Partnership Law|§ 7-60-117. Liability of Incoming Partner

 A person admitted as a partner into an existing partnership is liable for all the obligations of the partnership arising before such admission as though the person had been a partner when such obligations were incurred; except that this liability shall be satisfied only out of partnership property.   History. Source: L. 31: P. 654, § 17. CSA: C. 123, § 17. CRS 53: § 104-1-17. C.R.S. 1963: § 104-1-17. L. 2004: Entire section amended, p. 1425, § 79, effective July 1. History. Source: L. 31: P. 654, § 17. CSA: C. 123, § 17. CRS 53: § 104-1-17. C.R.S. 1963: § 104-1-17. L. 2004: Entire section amended, p. 1425, § 79, effective July 1.    ANNOTATION   This section held inapplicable to an incoming partner who expressly assumed a pre-existing obligation. Absent that express assumption however, the incoming partner's personal liability under a modified note would be limited to the amount of the new obligation created after his partnership interest began. Resolution Trust Corp. v. Teem P'ship, 835 F. Supp. 563 (D. Colo. 1993 ).
CO Code § 7-60-119 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 60 - Uniform Partnership Law|§ 7-60-119. Partnership Books

 The partnership books shall be kept, subject to any agreement between the partners, at the principal place of business of the partnership, and every partner shall at all times have access to and may inspect and copy any of them.   History. Source: L. 31: P. 655, § 19. CSA: C. 123, § 19. CRS 53: § 104-1-19. C.R.S. 1963: § 104-1-19. History. Source: L. 31: P. 655, § 19. CSA: C. 123, § 19. CRS 53: § 104-1-19. C.R.S. 1963: § 104-1-19.    ANNOTATION   Applied in Heinold Hog Mkt., Inc. v. McCoy, 700 F.2d 611 (10th Cir. 1983).
CO Code § 7-60-120 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 60 - Uniform Partnership Law|§ 7-60-120. Duty to Render Information

 Partners shall render on demand true and full information of all things affecting the partnership to any partner or the legal representative of any deceased partner under legal disability.   History. Source: L. 31: P. 656, § 20. CSA: C. 123, § 20. CRS 53: § 104-1-20. C.R.S. 1963: § 104-1-20. History. Source: L. 31: P. 656, § 20. CSA: C. 123, § 20. CRS 53: § 104-1-20. C.R.S. 1963: § 104-1-20.    ANNOTATION   Applied in Skeen v. Harms, 10 B.R. 817 (Bankr. D. Colo. 1981 ).
CO Code § 7-60-122 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 60 - Uniform Partnership Law|§ 7-60-122. Right to an Account

  Any partner shall have the right to a formal account as to partnership affairs:   If the partner is wrongfully excluded from the partnership business or possession of its property by the other partners;    If the right exists under the terms of any agreement;    As provided by section 7-60-121;    Whenever other circumstances render it just and reasonable.        History. Source: L. 31: P. 656, § 22. CSA: C. 123, § 22. CRS 53: § 104-1-22. C.R.S. 1963: § 104-1-22. L. 2004: (1)(a) amended, p. 1425, § 82, effective July 1. History. Source: L. 31: P. 656, § 22. CSA: C. 123, § 22. CRS 53: § 104-1-22. C.R.S. 1963: § 104-1-22. L. 2004: (1)(a) amended, p. 1425, § 82, effective July 1.    ANNOTATION   Having determined that a partnership exists, the right to an accounting necessarily follows. Roberts v. Roberts, 113 Colo. 128 , 155 P.2d 155 (1945).   But no right to receivership. A partner has a right to an accounting, a right to a dissolution, the right to contribution, and various rights on dissolution, but nowhere does the uniform act provide that even a bona fide partner has a right to receivership for property that he says belongs to the firm. Mann v. Friden, 132 Colo. 273 , 287 P.2d 961 (1955).   No right to derivative action, absent exceptional circumstances. Adams v. Land Servs., Inc., 194 P.3d 429 (Colo. App. 2008).
CO Code § 7-60-123 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 60 - Uniform Partnership Law|§ 7-60-123. Rights and Duties Beyond Term

  When a partnership for a fixed term or particular undertaking is continued after the termination of such term or particular undertaking without any express agreement, the rights and duties of the partners remain the same as they were at such termination, insofar as is consistent with a partnership at will.    A continuation of the business by the partners or such of them as habitually acted therein during the term, without any settlement or liquidation of the partnership affairs, is prima facie evidence of a continuation of the partnership.     History. Source: L. 31: P. 657, § 23. CSA: C. 123, § 23. CRS 53: § 104-1-23. C.R.S. 1963: § 104-1-23. History. Source: L. 31: P. 657, § 23. CSA: C. 123, § 23. CRS 53: § 104-1-23. C.R.S. 1963: § 104-1-23.
CO Code § 7-60-124 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 60 - Uniform Partnership Law|§ 7-60-124. Property Rights of a Partner

  The property rights of a partner are:   Such partner's rights in specific partnership property;    Such partner's interest in the partnership; and    Such partner's right to participate in the management.        History. Source: L. 31: P. 657, § 24. CSA: C. 123, § 24. CRS 53: § 104-1-24. C.R.S. 1963: § 104-1-24. L. 2004: Entire section amended, p. 1426, § 83, effective July 1. History. Source: L. 31: P. 657, § 24. CSA: C. 123, § 24. CRS 53: § 104-1-24. C.R.S. 1963: § 104-1-24. L. 2004: Entire section amended, p. 1426, § 83, effective July 1.
CO Code § 7-60-125 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 60 - Uniform Partnership Law|§ 7-60-125. Right in Specific Property

  A partner is co-owner with the other partners of specific partnership property holding as a tenant in partnership.    The incidents of tenancy in partnership are such that:   A partner, subject to the provisions of this article and to any agreement between the partners, has an equal right with the other partners to possess specific partnership property for partnership purposes; except that a partner has no right to possess such property for any other purpose without the consent of the other partners;    A partner's right in specific partnership property is not assignable except in connection with the assignment of rights of all the partners in the same property;    A partner's right in specific partnership property is not subject to attachment or execution except on a claim against the partnership. When partnership property is attached for a partnership debt the partners, or any of them, or the representatives of a deceased partner, cannot claim any right under the homestead or exemption laws.    On the death of a partner, the deceased partner's right in specific partnership property vests in the surviving partner or partners, except where the deceased partner was the last surviving partner, when the right in such property vests in the deceased partner's legal representative. The surviving partner or partners or the legal representative of the last surviving partner has no right to possess the partnership property for any but a partnership purpose.    A partner's right in specific partnership property is not subject to dower, curtesy, or allowances to widows, heirs, or next of kin.        History. Source: L. 31: P. 657, § 25. CSA: C. 123, § 25. CRS 53: § 104-1-25. C.R.S. 1963: § 104-1-25. L. 2004: (1), (2)(a), and (2)(d) amended, p. 1426, § 84, effective July 1. History. Source: L. 31: P. 657, § 25. CSA: C. 123, § 25. CRS 53: § 104-1-25. C.R.S. 1963: § 104-1-25. L. 2004: (1), (2)(a), and (2)(d) amended, p. 1426, § 84, effective July 1.    ANNOTATION   Law reviews. For article, “Non-Tax Advantages of the Revocable Trust (With Emphasis on Use as Will Substitute)”, see 37 Dicta 333 (1960).   A partner's right in specific partnership property is not assignable by an individual partner, nor is it subject to attachment or execution except upon a claim against the partnership. Upon a partner's death, the partner's right in such property vests in the surviving partner or partners. Mtn. States Bank v. Irvin, 809 P.2d 1113 (Colo. App. 1991).   This section does not confer upon partners a right to redress for individual losses where such losses are not unique and are shared by other partners. Adams v. Land Servs., Inc., 194 P.3d 429 (Colo. App. 2008).   Applied in Erickson v. Oberlohr, 749 P.2d 996 (Colo. App. 1987).
CO Code § 7-60-126 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 60 - Uniform Partnership Law|§ 7-60-126. Nature of Partner's Interest

 A partner's interest in the partnership is the partner's share of the profits and surplus, and the same is personal property.   History. Source: L. 31: P. 659, § 26. CSA: C. 123, § 26. CRS 53: § 104-1-26. C.R.S. 1963: § 104-1-26. L. 2004: Entire section amended, p. 1426, § 85, effective July 1. History. Source: L. 31: P. 659, § 26. CSA: C. 123, § 26. CRS 53: § 104-1-26. C.R.S. 1963: § 104-1-26. L. 2004: Entire section amended, p. 1426, § 85, effective July 1.    ANNOTATION   Law reviews. For article, “Financing Real Estate Developments”, see 11 Colo. Law. 2093 (1982). For article, “Campbell: A Caveat for Service Partners”, see 20 Colo. Law. 75 (1991).   Where the partner's interest in the partnership is deemed personalty and consists of a proportionate share of the partnership's profits and surplus, the court cannot order a division of specific partnership interest to a non-partner spouse if there are other partners in the venture besides the other spouse. In re Paul, 821 P.2d 925 (Colo. App. 1991).