South Carolina Statutes
§ 33-41-360 — Partnership is bound by partner's breach of trust.
The partnership is bound to make good the loss:
(1)When one partner acting within the scope of his apparent authority receives money or property of a third person and misapplies it; and (2) When 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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South Carolina § 33-41-360 (Partnership is bound by partner's breach of trust.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 52-26; 1952 Code SECTION 52-26; 1950 (46) 1841.
Nearby Sections
15
§ 33-41-10
Short title.§ 33-41-1000
Liability under SECTION 33-41-380 not affected.§ 33-41-1020
Right to wind up partnership affairs.§ 33-41-1090
Accrual of right to an account.§ 33-41-1120
Name.§ 33-41-1130
Liability insurance.§ 33-41-1140
Powers granted to limited liability partnership.