Article 1050. Termination of a simple partnership agreement.
1. A simple partnership agreement is terminated due to: declaring any of the partners to be incapable, partially capable or missing, unless the contract of simple partnership or subsequent agreement provides for the preservation of the contract in relations between the other partners; declaring any of the partners insolvent (bankrupt), with the exception specified in paragraph two of this clause; death of a partner or liquidation or reorganization of a legal entity of a simple partnership participating in the contract, if the contract or subsequent agreement does not preserve the contract in relations between the other partners or replaces the deceased partner (liquidated or reorganized legal entity) with his heirs (successors); the refusal of any of the partners to further participate in the open-ended simple partnership agreement, with the exception specified in paragraph two of this clause; termination of the agreement of a simple partnership concluded with an indication of the term, at the request of one of the partners in the relations between him and the other partners, with the exception specified in paragraph two of this clause; expiration of the simple partnership agreement; separation of the share of a partner at the request of his creditor, with the exception specified in paragraph two of this clause. 2. Upon termination of a contract of simple partnership, things transferred into common ownership and (or) use of partners shall be returned to the partners who provided them without remuneration, unless otherwise provided by agreement of the parties. From the moment of termination of the contract of simple partnership, its participants are jointly and severally liable for the unfulfilled general obligations towards third parties. The division of property that was in the common property of the partners and the general rights of claim arising from them shall be carried out in the manner established by Article 252 of this Code. A comrade who has made an individually determined thing to common property has the right, upon termination of the contract of simple partnership, to demand in court to return this thing to him, subject to the interests of the other partners and creditors.
References to other articles of chapter 55. Simple partnership: