{"data":{"id":"us-ky/krs-362.190","jurisdiction":"us-ky","citation":"KRS 362.190","heading":"Partner agent of partnership as to partnership business.","body":"(1) Subject to the limitations set forth in KRS 362.220(2), every partner shall be an\nagent of the partnership for the purpose of its business, and the act of every partner,\nincluding the execution in the partnership name of any instrument, for apparently\ncarrying on in the usual way the business of the partnership of which he is a\nmember shall bind the partnership, unless the partner so acting has in fact no\nauthority to act for the partnership in the particular matter, and the person with\nwhom he is dealing has knowledge of the fact that he has no authority.\n(2) An act of a partner which is not apparently for the carrying on of the business of the\npartnership in the usual way shall not bind the partnership unless authorized by the\nother partners.\n(3) Unless authorized by the other partners or unless they have abandoned the business,\none (1) or more but less than all the partners shall have no authority to:\n(a) Assign the partnership property in trust for creditors or on the assignee's\npromise to pay the debts of the partnership;\n(b) Dispose of the goodwill of the business;\n(c) Do any other act which would make it impossible to carry on the ordinary\nbusiness of a partnership;\n(d) Confess a judgment;\n(e) Submit a partnership claim or liability to arbitration or reference.\n(4) No act of a partner in contravention of a restriction on authority shall bind the\npartnership to persons having knowledge of the restriction.","path":["KRS Chapter 362"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=34297","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:55Z","sha256":"524f2217125132e718f770585f2b156e3ff52254e390adc4f4d2821de66c6183","source_id":"us-ky","stale":false,"prev":"us-ky/krs-362.185","next":"us-ky/krs-362.195"},"notice":"GroundRules: Original legal text. Not legal advice."}