Where there is a continuation of the business by the partners, or such of them as habitually acted in it during the term, without any settlement or liquidation of the partnership affairs, there is a statutory presumption that the partnership will continue in existence as between those partners1. However, the terms upon which the partnership will continue will depend upon whether the continuation stems simply from a dissolution caused by the expiry of a fixed term2 where the partners (or such of them as habitually acted in it during the term) carry on as before, or whether the reason
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