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CONKLIN FARM v. LEIBOWITZ

140 N.J. 417 (1995)

658 A.2d 1257

CONKLIN FARM, PLAINTIFF-RESPONDENT, v. DORIS LEIBOWITZ, DEFENDANT-APPELLANT.

The Supreme Court of New Jersey.

Decided June 14, 1995.

Attorney(s) appearing for the Case

Michael M. Rosenbaum argued the cause for appellant (Budd, Larner, Gross, Rosenbaum, Greenberg & Sade, attorneys; Mr. Rosenbaum and Michael V. Gilberti, on the brief).

Howard C. Trueger argued the cause for respondent (Mr. Trueger, attorney; Marisa A. Taormina, on the brief).

The opinion of the Court was delivered by GARIBALDI, J.

This appeal addresses whether an incoming partner is personally liable for interest that accrues on a partnership debt that arose before the incoming partner's admission. Under section 17 of New Jersey's Uniform Partnership Law, N.J.S.A. 42:1-1 to -43, (the Act), an incoming partner is liable for preexisting debt only to the extent of partnership property; the incoming partner is not personally liable...

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