73. Retired and deceased partners.

The rule of estoppel by representation1 applies to a former partner who has retired without giving proper notice of dissolution2. The representation is a continuing one as regards persons who have dealt with the old firm unless and until such notice is given, but not as regards new customers or creditors who never knew that he was a partner3. Where, however, on the death of a partner the business is continued by the surviving partners under the old name, the rule does not apply so as to impose liability upon the personal representatives of the late partner for transactions