On dissolution the partnership is not terminated but continues until the winding up of partnership affairs is completed.
Source: L. 31: p. 660, § 30. CSA: C. 123, § 30. CRS 53: § 104-1-30. C.R.S. 1963: § 104-1-30.
ANNOTATION
Harmless error to join dissolved partnership as defendant. Where a trial court renders judgment against a partnership as such when it is in fact dissolved when its assets and liabilities were transferred to a trust, it is harmless error which does not require reversal of the judgment by having joined the partnership, since if, in fact, the partnership has no assets and is a nonentity, then the judgment against a nonentity can do no harm and since the individual partners were also named parties, then they cannot escape personal liability for the partnership debts if the partnership is no longer existent as such. Western Spring Serv. Co. v. Andrew, 229 F.2d 413 (10th Cir. 1956).
Applied in Hooper v. Yoder, 737 P.2d 852 (Colo. 1987).