PUBLISHED

N.C.G.S. § 59-44

Partnership bound by partner's breach of trust.

Effective date: 2026-08-08
Last verified: 2026-08-09
Source: official source
Revision history: view all versions

The partnership is bound to make good the loss: (1) Where one partner acting within the scope of his apparent authority receives money or property of a third person and misapplies it; and (2) Where the partnership in the course of its business receives money or property of a third person and the money or property so received is misapplied by any partner while it is in the custody of the partnership. (1941, c. 374, s. 14.)