A partnership agreement may provide that (i) a partner who fails to perform in accordance with, or to comply with the terms and conditions of, the partnership agreement shall be subject to specified penalties or specified consequences, and (ii) at the time or upon the happening of events specified in the partnership agreement, a partner shall be subject to specified penalties or specified consequences. Such specified penalties or specified consequences may include and take the form of any penalty or consequence set forth in § 15-207(b) of this title.
Structure Delaware Code
Chapter 15. DELAWARE REVISED UNIFORM PARTNERSHIP ACT
Subchapter IV. Relations of Partners to Each Other and to Partnership
§ 15-401. Partner's rights and duties.
§ 15-402. Distributions in kind.
§ 15-403. Partner's rights and duties with respect to information.
§ 15-404. General standards of partner's conduct.
§ 15-405. Actions by partnership and partners; derivative actions.
§ 15-406. Continuation of partnership beyond definite term or particular undertaking.
§ 15-408. Remedies for breach of partnership agreement.
§ 15-409. Reliance on reports and information by partner or liquidating trustee.