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Is a contract legal, even if no termination date?

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Grinboy1

Guest
If a contract is signed by three partners who wish to work together to sell a particular product, and there are terms for the dissolution of the partnership based on conditions (such as bankruptcy of any one partner, agreement by 2 of 3 partners to dissolve partnership, etc.)... is the contract still valid and enforceable? Or is it invalid and unenforceable, by virtue of not having a set, stated, termination point?

I would appreciate a reply to my email at [email protected]... Very important. If you know any case law to support the validity of a signed and dated partnership contract that does not have an ending date (eg, one that states something like "effective for five years" or "effective until June 1, 2005", etc.) please let me know. Much appreciated; may hire attorney who has experience in contract law sufficient to answer this question.

Thanks,

Dan
 
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loku

Guest
Under the Uniform Partnership law, a partnership agreement can certainly be valid and enforceable without a termination date specified. In fact, most partnerships probably do not have a set termination date. For the law of partnerships in your own state, including all the formalities required in the contract, look up the Partnership statute of your state.

No need to hire an attorney, this is a very basic question.
 

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