CAP. 38]
[s. 15 cont.]
Persons liable by Partnership.
(a) this section shall not affect any liability incurred by any partner by reason of his having notice of a breach of trust; and
(b) nothing in this section shall prevent trust money from being followed and recovered from the firm, if still in its possession or under its control. [13]
16. Every one who, by words spoken or written or by "holding out", conduct, represents himself, or who knowingly suffers himself to be represented, as a partner in a particular firm is liable as a partner to any one who has, on the faith of any such representation, given credit to the firm, whether the representation has or has not been made or communicated to the person so giving credit by or with the knowledge of the apparent partner making the representation or suffering it to be made: Provided that where, after a partner's death, the partnership business is continued in the old firm-name, the continued use of that name or of the deceased partner's name as part thereof shall not of itself make his executors or administrators, estate or effects, liable for any partnership debts contracted after his death. [14]
Admissions and representations of partner.
Notice to acting partner to be notice to firm.
Liabilities of incoming and outgoing partners.
17. An admission or representation made by any partner concerning the partnership affairs, and in the ordinary course of its business, is evidence against the firm. [15]
18. Notice to any partner who habitually acts in the partnership business of any matter relating to partnership affairs operates as notice to the firm, except in the case of a fraud on the firm committed by or with the consent of that partner. [16]
19. (1) A person who is admitted as a partner into an existing firm does not thereby become liable to the creditors of the firm for anything done before he became a partner.
(2) A partner who retires from a firm does not thereby cease to be liable for partnership debts or obligations incurred before his retirement.
(3) A retiring partner may be discharged from any existing liabilities by an agreement to that effect between himself and the members of the firm as newly constituted
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