2006 Nebraska Revised Statutes - § 67-314 — Partner\'s breach of trust; when binding on copartner.

Section 67-314
Partner's breach of trust; when binding on copartner.

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.

Source:

Laws 1943, c. 143, § 14, p. 491

Termination date January 1, 2001

~Reissue Revised Statutes of Nebraska