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362.225 Partner by estoppel.
(1)
(2)
When a person, by words spoken or written or by conduct, represents himself,
or consents to another representing him to anyone, as a partner in an existing
partnership or with one or more persons not actual partners, he is liable to any
such person to whom such representation has been made, who has, on the
faith of such representation given credit to the actual or apparent partnership,
and if he has made such representation or consented to its being made in a
public manner he is liable to such person, whether the representation has or
has not been made or communicated to such person so giving credit by or with
the knowledge of the apparent partner making the representation or consenting
to its being made:
(a) When a partnership liability results, he is liable as though he were an
actual member of the partnership.
(b) When no partnership liability results, he is liable jointly with the other
persons, if any, so consenting to the contract or representation as to incur
liability, otherwise separately.
When a person has been thus represented to be a partner in an existing
partnership, or with one or more persons not actual partners, he is an agent of
the persons consenting to such representation to bind them to the same extent
and in the same manner as though he were a partner in fact, with respect to
persons who rely upon the representation. Where all the members of the
existing partnership consent to the representation, a partnership act or
obligation results; but in all other cases it is the joint act or obligation of the
person acting and the persons consenting to the representation.
Effective:June 26, 2007
History: Repeal the prior repeal contained in 2006 Ky. Acts ch. 149, sec. 239,
which was to have been effective January 1, 2008, 2007 Ky. Acts ch. 137,
sec. 180, effective June 26, 2007. -- Repealed 2006 Ky. Acts ch. 149, sec. 239,
effective January 1, 2008. -- Created 1954 Ky. Acts ch. 38, sec. 16, effective
June 17, 1954.
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