Please enable JavaScript.
Coggle requires JavaScript to display documents.
Partnership Law - Coggle Diagram
Partnership Law
Liability of partners
-
c. Misappropriation
-
The other partners are not liable to the beneficiaries if a partner actin his individual capacity, improperly makes use of trust property in the business of the firm.
d. Contractual Liability
Section 11
all partners in a firm are jointly liable for all contractual, which are
incurred while each is a partner.
e. Criminal Liability
They are not jointly liable in criminal cases, but in civil cases.
f. Duration of Liability
New partner who has just been admitted into a firm is not liable for the debts incurred prior to his admission.
-
-
a. Ordinary Torts
-
In order to make a firm liable, the tortious act must be committed by a partner either in the ordinary course of the business of the firm or with the authority of his co-partners.
-
-