Mass. Gen. Laws ch. 108A § 14

Current through Chapters 1 to 249 and Chapters 253 to 255 of the 2024 Legislative Session

Section 108A:14 - Liability of partnership for partner's misapplication of money or property

The partnership is bound to make good the loss:

(a) Where one partner acting within the scope of his apparent authority receives money or property of a third person and misapplies it; and

(b) Where the partnership in the course of its business receives money or property of a third person and the money or property so received is misapplied by any partner while it is in the custody of the partnership.

Mass. Gen. Laws ch. 108A, § 14