{"data":{"id":"us-ky/krs-362.340","jurisdiction":"us-ky","citation":"KRS 362.340","heading":"Rights where partnership is dissolved for fraud or misrepresentation.","body":"Where a partnership contract is rescinded on the ground of the fraud or misrepresentation\nof one (1) of the parties thereto, the party entitled to rescind is, without prejudice to any\nother right, entitled:\n(1) To a lien on, or right of retention of, the s urplus of the partnership property after\nsatisfying the partnership liabilities to third persons for any sum of money paid by\nhim for the purchase of an interest in the partnership and for any capital or advances\ncontributed by him; and\n(2) To stand, after all liabilities to third persons have been satisfied, in the place of the\ncreditors of the partnership for any payments made by him in respect of the\npartnership liabilities; and\n(3) To be indemnified by the person guilty of the fraud or making the repres entation\nagainst all debts and liabilities of the partnership.","path":["KRS Chapter 362"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=34327","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:55Z","sha256":"ef94dc5b09d5dd760a67193037fed40265dff441b93268208af968d8e57e8f48","source_id":"us-ky","stale":false,"prev":"us-ky/krs-362.335","next":"us-ky/krs-362.345"},"notice":"GroundRules: Original legal text. Not legal advice."}