North Carolina Statutes
§ 59-44 — Partnership bound by partner's breach of trust
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.)
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Nearby Sections
15
§ 59-1001
Right of action§ 59-1002
Proper plaintiff§ 59-1003
Pleading§ 59-1004
Expenses§ 59-1005
Dismissal of action§ 59-1006
Construction§ 59-101
Short title§ 59-102
Definitions§ 59-103
Name§ 59-1050
Conversion§ 59-1051
Plan of conversion§ 59-1053
Effects of conversion