Section 27Liability of firm for misapplication by partners
In force
Chapter IV RELATIONS OF PARTNERS TO THIRD PARTIES
s. 27
27. Liability of firm for misapplication by partners Where- (a) a partner acting within his apparent authority receives money or property from a third party and misapplies it, or (b) a firm in the course of its business receives money or property from a third party, and the money or property is misapplied by any of the partners while it is in the custody of the firm, the firm is liable to make good the loss.