{"data":{"id":"us-ny/n.y.-partnership-law-25","jurisdiction":"us-ny","citation":"N.Y. Partnership Law § 25","heading":"Partnership bound by partner's breach of trust","body":"§ 25. Partnership bound by partner's breach of trust.  The partnership\nis bound to make good the loss:\n  1. Where one partner acting within the scope of his apparent authority\nreceives money or property of a third person and misapplies it; and\n  2. Where the partnership in the course of its business receives money\nor property of a third person and the money or property so received is\nmisapplied by any partner while it is in the custody of the partnership.","path":["Partnership Law","Article 3. Relations of Partners to Persons Dealing With the Partnership"],"source_url":"https://legislation.nysenate.gov/api/3/laws/PTR/25","current_through":"2026-09-11","vintage":"","retrieved_at":"2026-09-14T19:32:45Z","sha256":"67c3c03433f05478558eaf4a0d3fc9180caa5a858066970f213c349ae5d56760","source_id":"us-ny","stale":false,"prev":"us-ny/n.y.-partnership-law-24","next":"us-ny/n.y.-partnership-law-26"},"notice":"GroundRules: Original legal text. Not legal advice."}