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2005 Illinois Code - 805 ILCS 205/      Uniform Partnership Act. Part I - Preliminary Provisions


      (805 ILCS 205/Pt. I heading)
PART I
PRELIMINARY PROVISIONS

    (805 ILCS 205/1) (from Ch. 106 1/2, par. 1)
    (Section scheduled to be repealed on January 1, 2008)
    Sec. 1. This act may be cited as Uniform Partnership Act.
(Source: Laws 1917, p. 625.)

    (805 ILCS 205/2) (from Ch. 106 1/2, par. 2)
    (Section scheduled to be repealed on January 1, 2008)
    Sec. 2. Definitions. In this Act "court" includes every court and judge having jurisdiction in the case.
    "Business" includes every trade, occupation or profession.
    "Person" includes individuals, partnerships, corporations, and other associations.
    "Bankrupt" includes bankrupt under the Federal Bankruptcy Act or insolvent under any state insolvent act.
    "Conveyance" includes every assignment, lease, mortgage, or encumbrance.
    "Real property" includes land and any interest or estate in land.
    "Registered limited liability partnership" includes a partnership formed pursuant to an agreement governed by the laws of this State, registered under Section 8.1 and complying with Sections 8.2 and 8.3.
(Source: P.A. 88‑573, eff. 8‑11‑94.)

    (805 ILCS 205/3) (from Ch. 106 1/2, par. 3)
    (Section scheduled to be repealed on January 1, 2008)
    Sec. 3. (1) A person has "knowledge" of a fact within the meaning of this act not only when he has actual knowledge thereof, but also when he has knowledge of such other facts as in the circumstances shows bad faith.
    (2) A person has "notice" of a fact within the meaning of this act when the person who claims the benefit of the notice
    (a) States the fact to such person, or
    (b) Delivers through the mail, or by other means of communication, a written statement of the fact to such person or to a proper person at his place of business or residence.
(Source: Laws 1917, p. 625.)

    (805 ILCS 205/4) (from Ch. 106 1/2, par. 4)
    (Section scheduled to be repealed on January 1, 2008)
    Sec. 4. (1) The rule that statutes in derogation of the common law are to be strictly construed shall have no application to this act.
    (2) The law of estoppel shall apply under this act.
    (3) The law of agency shall apply under this act.
    (4) This act shall be so interpreted and construed as to effect its general purpose to make uniform the law of those states which enact it.
    (5) This act shall not be construed so as to impair the obligations of any contract existing when the act goes into effect, nor to affect any action or proceedings begun or right accrued before this act takes effect.
(Source: Laws 1917, p. 625.)

    (805 ILCS 205/5) (from Ch. 106 1/2, par. 5)
    (Section scheduled to be repealed on January 1, 2008)
    Sec. 5. In any case not provided for in this act the rules of law and equity, including the law merchant, shall govern.
(Source: Laws 1917, p. 625.)

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