{"data":{"id":"us-nc/n.c.-gen.-stat.-59-69","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 59-69","heading":"Rights where partnership is dissolved for fraud or misrepresentation.","body":"Where partnership contract is rescinded on the ground of the fraud or misrepresentation of one of the parties thereto, the party entitled to rescind is, without prejudice to any other right, entitled,\n(1)\tTo a lien on, or right of retention of, the surplus of the partnership property after satisfying the partnership liabilities to third persons for any sum of money by him for the purchase of an interest in the partnership and for any capital or advances contributed by him; and\n(2)\tTo stand, after all liabilities to third persons have been satisfied, in the place of the creditors of the partnership for any payments made by him in respect of the partnership liabilities; and\n(3)\tTo be indemnified by the person guilty of the fraud or making the representation against all debts and liabilities of the partnership. (1941, c. 374, s. 39.)","path":["Chapter 59. Partnership.","Article 2. Uniform Partnership Act.","Part 6. Dissolution and Winding Up."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_59/GS_59-69.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:07:02Z","sha256":"d8e4cb33c7a2ba392b9c42a934c2b85473dd9ece437be9d360758ffa14e2506b","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-59-68","next":"us-nc/n.c.-gen.-stat.-59-70"},"notice":"GroundRules: Original legal text. Not legal advice."}