CONTINUATION AGREEMENT

continuation agreement.Partnership. An agreement among the partners that, in the event of dissolution, the business of the partnership can be continued without the necessity of liquidation. Cf. BUY–SELL AGREE-MENT(1). [Cases: Partnership  277. C.J.S. Partnership §§ 318–320.] “Normally, a continuation agreement would have some type of provision for purchasing the

interest of a deceased or expelled partner. However, such a provision is not necessary. Courts have enforced agreements that give the estate of the deceased partner nothing.” Harold Gill Reuschlein & William A. Gregory, The Law of Agency and Partnership § 269, at 461 (2d ed. 1990). [Blacks Law 8th]