(1) Where any international partner of an international partnership has died or otherwise ceased to be an international partner, and the surviving or continuing international partners carry on the business of the international partnership with its capital or assets without any final settlement of accounts as between the international partnership and the outgoing international partner or his or her estate, then, in the absence of any agreement to the contrary, the outgoing international partner or his or her estate is entitled at the option of himself or herself or his or her executors or administrators to such share of the profits made since the dissolution as the court may find to be attributable to the use of his share of the international partnership assets, or to interest at such rate as may be determined by the court.
(2) Notwithstanding the provisions of subsection (1), where by the international partnership contract an option is given to surviving or continuing international partners to purchase the interest of a deceased or outgoing international partner and that option is duly exercised the estate of the deceased international partner or the outgoing international partner or his or her estate, as the case may be, is not entitled to any further share of profits but if any international partner assuming to act in exercise 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 subsection (1).