This section is from the book "The Law Of Contracts", by William Herbert Page. Also available from Amazon: Commercial Contracts: A Practical Guide to Deals, Contracts, Agreements and Promises.
Before dissolution a payment made by a partner upon a partnership debt starts limitations to running afresh.1 This doctrine is qualified in some jurisdictions by the rule that if such payment is made out of the personal funds of the partner it does not stop limitations from running against the partnership.2 A payment made by a member of a partnership after the dissolution thereof is held by some authorities to operate as a waiver of the bar of the statute as to such payees as did not know of the dissolution.3 If the creditor has notice of the dissolution, a part payment made by the liquidating partner does not waive the bar as to the other partners,4 even under a statute providing that on dissolution each partner may with consent of his creditor settle for his own share of the firm debts.5 Some authorities hold that even if the creditor knows of the dissolution a payment by the partners who remain in the business prevents limitations from running as to all.6
6 National State Bank v. Rowland. 1 Colo. App. 468; 29 Pac. 465.
7 Huntington v. Chesmore, 60 Vt. 566; 15 Atl. 173.
8 Clarkin v. Brown, 80 Minn. 361; 83 N. W. 351.
9 Clarkin v. Brown, 80 Minn. 361; 83 N. W. 351.
10 Pfenninger v. Kokesch, 68 Minn. 81; 70 N. W. 867.
1 Harding v. Butler, 156 Mass. 34; 30 N. E. 168.