358.140. Partnership bound by partner's breach of trust.
88 words·~1 min read·
/mo/chapter-358/358-140A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
358.140. Partnership bound by partner's breach of trust. — The partnership is bound to make good the loss
(1)Where one partner acting within the scope of his 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.
--------
(L. 1949 p. 506 § 14)