Section 18Part 3 — Relations of Partners to Persons Dealing With Them
Liabilities of incoming and outgoing partners
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A person who is admitted as a partner into an existing firm does not thereby become liable to the creditors of the firm for anything done before that person became a partner.
A partner who retires from a firm does not thereby cease to be liable for partnership debts or obligations incurred before that partner's retirement.
A retiring partner may be discharged from any existing liabilities by an agreement to that effect between themselves and the members of the firm as newly constituted and the creditors, and this agreement may be either expressed or inferred as a fact from the course of dealing between the creditors and the firm as newly constituted.