Commercial Companies Law

Article 58 — Article (58) Transactions of the Company upon Expiry of its Term or Fulfillment of its Objects

Part Two: Partnerships · Chapter One: General Partnership

1. The rights and obligations of the partners in a General Partnership shall survive if the Company continues to operate upon the expiry of its term or the fulfillment of the objects for which it is established. 2. If a bona fide third party continues to deal with one or more General Partners after the Company's MOA has been amended or after a resolution is issued to dissolve it, on the assumption that the Company is a going concern, such partner[s] shall be held liable vis-à-vis third parties prior to the amendment of the Company's MOA or the resolution approving its dissolution. Publication of a notice in at least two daily local newspapers, one of which is published in Arabic, shall be sufficient notice to persons who dealt with the General Partnership prior to the date of its dissolution or prior to the announcement of amendment of its MOA.

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