New South Wales Consolidated Acts

PARTNERSHIP ACT 1892 - SECT 18

18 Revocation of continuing guaranty by change of firm

(1) A continuing guaranty or cautionary obligation given either to a firm or to a third person in respect of the transactions of a firm is, in the absence of agreement to the contrary, revoked as to future transactions by any change in the constitution of the firm to which, or of the firm in respect of whose transactions, the guaranty or obligation was given.

(2) This section does not apply to or in respect of an incorporated limited partnership.