§3225. Partnership liable for partner's actionable conduct

Link to law: http://legislature.vermont.gov/statutes/section/11/022/03225
Published: 2015

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The Vermont Statutes Online



Title

11

:
Corporations, Partnerships and Associations






Chapter

022

:
PARTNERSHIPS






Subchapter

003
:
RELATIONS OF PARTNERS TO PERSONS DEALING WITH PARTNERSHIP










 

§

3225. Partnership liable for partner's actionable conduct

(a) A

partnership is liable for loss or injury caused to a person, or for a penalty

incurred, as a result of a wrongful act or omission, or other actionable

conduct, of a partner acting in the ordinary course of business of the

partnership or with authority of the partnership.

(b) If, in the

course of the partnership's business or while acting with authority of the

partnership, a partner receives or causes the partnership to receive money or

property of a person not a partner, and the money or property is misapplied by

a partner, the partnership is liable for the loss. (Added 1997, No. 149 (Adj.

Sess.), § 1, eff. Jan. 1, 1999.)
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