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The Annotated Code of the Public General Laws of Maryland, 1939
Volume 379, Page 2768   View pdf image (33K)
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2768 ARTICLE 73A

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 partnership, and if
he has made such representation or consented to its being made in a pub-
lic manner he is liable to such person, whether the representation has or
has not been made or communicated to such person 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 representation 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 representation. 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 persons consenting to the repre-
sentation.

This section referred to in construing sec. 7—see notes thereto. Southern Can Co. v.
Sayler, 152 Md. 311.

In view of terms of certain agreements and of other evidence, defendant held himself
out as a partner, and hence it was immaterial that he did not have relationship to
business which agreements represented. Blaustein v. Oldfield, 135 Md. 169.

An. Code, 1924, sec. 17. 1912, sec. 17. 1916, ch. 175, sec. 17.

17. (Liability of Incoming Partner.) A person admitted as a partner
into an existing partnership is liable for all the obligations of the partner-
ship arising before his admission as though he had been a partner when
such obligations were incurred, except that this liability shall be satisfied
only out of partnership property.

PART IV.
Relation of Partners to One Another.

An. Code, 1924, sec. 18. 1912, sec, 18. 1916, ch. 175, sec. 18.

18. (Rules Determining Rights and Duties of Partners.) The rights
and duties of the partners in relation to the partnership shall be deter-
mined, subject to any agreement between them, by the following rules:

(a) Each partner shall be repaid his contributions, whether by way of
capital or advances to the partnership property and share equally in the
profits and surplus remaining after all liabilities, including those to part-
ners, are satisfied; and must contribute towards the Josses, whether of
capital or otherwise, sustained by the partnership according to his share
in the profits.

(b) The partnership must indemnify every partner in respect of pay-
ments made and personal liabilities reasonably incurred by him in the
ordinary and proper conduct of its business, or for the preservation of its
business or property.


 

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The Annotated Code of the Public General Laws of Maryland, 1939
Volume 379, Page 2768   View pdf image (33K)
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