GroundRules
S.C. Code Ann. § 33-41-360: Partnership is bound by partner's breach of trust.
Where this section sits in the code
- Title 33 - CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS
- CHAPTER 41 Uniform Partnership Act
- ARTICLE 5 Relations of Partners to Persons Dealing With Partnership
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.
Collected 2026-09-02T07:04:24Z. Source file · JSON