Recovery From Partnership for Loss Caused by Wrongful Act of Partner

  1. Law
  2. Georgia Code
  3. Corporations, Partnerships, and Associations
  4. Partnerships
  5. Recovery From Partnership for Loss Caused by Wrongful Act of Partner

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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.

(Code 1981, §14-8-14, enacted by Ga. L. 1984, p. 1439, § 1.)

RESEARCH REFERENCES

Am. Jur. 2d.

- 59A Am. Jur. 2d, Partnership, § 371.

C.J.S.

- 68 C.J.S., Partnership, §§ 192, 204, 214, 226 et seq.


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