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2021 Nevada Revised Statutes
Chapter 87 - Partnerships
NRS 87.140 - Partnership bound by partner’s breach of trust.
Universal Citation:
NV Rev Stat § 87.140 (2021)
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This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
The partnership is bound to make good the loss:
1. Where one partner acting within the scope of his or her apparent authority receives money or property of a third person and misapplies it; and
2. 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.
[14:74:1931; 1931 NCL § 5028.13]
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