Nevada § 87.140 Partnership bound by partner’s breach of trust

Nevada Statutes

§ 87.140 — Partnership bound by partner’s breach of trust

Nevada·Title 7 BUSINESS ASSOCIATIONS; SECURITIES; COMMODITIES·Ch. 87 Partnerships· Relations of Partners to Persons Dealing With Partnership

The partnership is bound to make good the loss:

1.Where one partner acting within the scope of his or her 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.

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The partnership is bound to make good the loss:
1. Where one partner acting within the scope of his or her 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.

Nevada § 87.140 (Partnership bound by partner’s breach of trust) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.