2017 Wisconsin Statutes & Annotations
Chapter 178. Uniform partnership law.
178.0103 Knowledge; notice.

Universal Citation: WI Stat § 178.0103 (2017)

178.0103 Knowledge; notice.

(1) A person knows a fact if any of the following applies:

(a) The person has actual knowledge of the fact.

(b) The person is deemed to know the fact under sub. (4) (a) or law other than this chapter.

(2) A person has notice of a fact if any of the following applies:

(a) The person has reason to know the fact from all the facts known to the person at the time in question.

(b) The person is deemed to have notice of the fact under sub. (4) (b).

(3) Subject to s. 178.0117 (6), a person notifies another person of a fact by taking steps reasonably required to inform the other person in ordinary course, whether or not those steps cause the other person to know the fact.

(4)

(a) A person not a partner is deemed to know of a limitation on authority to transfer real property as provided in s. 178.0303 (7).

(b) A person not a partner is deemed to have notice of all of the following as follows:

1. A person's dissociation as a partner 90 days after a statement of dissociation under s. 178.0704 becomes effective.

2. A partnership's dissolution 90 days after a statement of dissolution under s. 178.0802 becomes effective.

3. A partnership's termination 90 days after a statement of termination under s. 178.0802 becomes effective.

4. A partnership's participation in a merger, interest exchange, conversion, or domestication, 90 days after the articles of merger, interest exchange, conversion, or domestication under subch. XI become effective.

(5) Except for a transferor partner's notice or knowledge of the transfer under s. 178.0503 (4) or a withdrawing partner's notice or knowledge of the withdrawal under s. 178.0601 (1), a partner's knowledge or notice of a fact relating to the partnership is effective immediately as knowledge of or notice to the partnership, except in the case of a fraud on the partnership committed by or with the consent of that partner.

(6) This subsection applies to notice that is required under this chapter and that is made subject to this subsection by express reference to this subsection. Written notice is effective at the earliest of the following:

(a) When received.

(b) Five days after its deposit in the U.S. mail, if mailed postpaid and correctly addressed.

(c) On the date shown on the return receipt, if sent by registered or certified mail, return receipt requested, and the receipt is signed by or on behalf of the addressee.

History: 2015 a. 295.

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