362.225 Partner by estoppel.

280 words·~1 min read·/ky/chapter-362/362-225

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)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.

(2)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.