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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 -- Repealed 2006 Ky.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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