(2) Provided that where by the partnership contract an option is given to surviving or continuing partners to purchase the interest of a deceased or outgoing partner, and that option is duly exercised, the estate of the deceased partner, or the outgoing partner or his or her estate, as the case may be, is not entitled to any further or other share of profits; but if any partner assuming to act in exception of the option does not in all material respects comply with the terms thereof, he or she is liable to account under the foregoing provisions of this article.