In a recent decision the Wisconsin Supreme Court upheld the validity of a provision in a partnership agreement to the effect that the personal representative of the deceased partner should continue the business as a partner, and also stated: "There is no doubt that a partner may provide by his will that the partnership shall continue notwithstanding his death." The deceased partner by his will gave to his executor broad discretionary powers of sale over all of his property. To his widow the deceased partner bequeathed a share of his interest in the partnership business. The executor of the deceased partner continued the business as a partner for several months at which time he changed his mind and decided to sell the deceased partner's interest to the surviving partner. The executor secured permission of the court to sell and the surviving partner to buy the deceased partner's interest in the partnership. The hearing was had without the knowledge and consent of the widow and she brought an action to set aside the sale on grounds of fraud. The trial court dismissed the petition of the widow and upheld the sale as fair and without fraud. On appeal the Wisconsin Supreme Court affirmed the holding of the trial court on the ground that the acts of the executor in continuing the business and then selling the decedent's interest were within his delegated authority.
Irving Slifkin S.Ed.,
PARTNERSHIP-EFFECT OF PROVISION THAT EXECUTOR OF DECEASED PARTNER SHALL CONTINUE PARTNERSHIP AS PARTNER,
Mich. L. Rev.
Available at: https://repository.law.umich.edu/mlr/vol46/iss7/8