|
|
|
|
|
|
|
ART. LXXIIIA] PARTNERSHIP. 537
1016, ch. 175, sec. 14.
14. (PARTNERSHIP BOUND BY PARTNER'S BREACH OF TRUST.) The
partnership is bound to make good the loss:
(a) Where one partner acting within the scope of his apparent
authority receives money or property of a third person and misapplies
it; and
(b) Where the partnership in the course of its business receives
money or property of a third person and the money or property so
leceived is misapplied by any partner while it is in the custody of the
partnership.
1916. ch. 175, sec. 15.
15. (NATURE OF PARTNER'S LIABILITY.) All partners are liable:
(a) Jointly and severally for everything chargeable to the partner-
ship under sections 13 and 14.
(b) Jointly for all other debts and obligations of the partnership;
but any partner may enter into a separate obligation to perform a part-
nership contract.
1916, ch. 175, sec. 16.
16. (PARTNER BY ESTOPPEL.) (1) When a person, by words spoken
or written or by conduct, represents himself, or consents to another
representing him to anyone, as a partner in an existing partnership or
with one or more persons not actually partners, he is liable to any such
person to whom such representation has been made, who has, on the
faith of such representation, given credit to the actual or apparent part-
nership, and if he has made such representation or consented to its
being made in a, public manner he is liable to such person, whether the
representation has or has not been made or communicated to such per-
son so giving credit by or with the knowledge of the apparent partner
making the representation or consenting to its being made.
(a) When a partnership liability results, he is liable as though he
were an actual member of the partnership.
(b) When no partnership liability results, he is liable jointly with
the other persons, if any, so consenting to the contract or representa-
tion as to incur liability, otherwise separately.
(2) When a person has thus been represented to be a partner in an
existing partnership, or with one or more persons not actual partners,
he is an agent of the persons consenting to such representation to bind
them to the same extent and in the same manner as though he were a
partner in fact, with respect to persons who rely upon the representa-
tion. Where all the members of the existing partnership consent to the
representation, a partnership act or obligation results; but in all other
cases it is the joint act or obligation of the person acting and the per-
sons consenting to the representation.
18
|
|
|
|
|
|
|
|
 |
