282
Liability for wrongs joint and several.
Improper employment of trust-property for partnership purposes.
Persons liable
Out
No. 1.] THE ORDINANCES OF HONGKONG: [AD. 189.
(2.) where a firm in the course of its business receives the money or property of a third person, and the money or property so received is misapplied by one or more of the partners while it is in the custody of the firm; the firm is liable to make good the loss.
14. Every partner is liable jointly with his co-partners and severally for everything for which the firm while he is a partner therein becomes liable under either of the last two preceding sections.
15. If a partner, being a trustee, improperly employs trust-property in the business or on the account of the partnership, no other partner is liable for the trust-property to the persons beneficially interested therein: Provided as follows:
(1.) this section shall not affect any liability incurred by any partner by reason of his having notice of a breach of trust; and
(2.) 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.
16.-(1.) Every one who, by words spoken or written or by 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.
Admissions and representations of partner.
Notice to acting partner to be notice to firm.
Liabilities of incoming and outgoing partners.
(2.) 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.
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.
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.
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.
282
Liability for wrongs joint
and several.
Improper employment of trust-
property for partnership purposes.
Persons liable
Out"
No. 1.] THE ORDINANCES OF HONGKONG: [AD. 189. (2.) where a firm in the course of its business receives the money property of a third person, and the money or property so recen is misapplied by one or more of the partners while it is in custody of the firm;
the firm is liable to make good the loss.
14. Every partner is liable jointly with his co-partners and severally for everything for which the firm while he is a partner there becomes liable under either of the last two preceding sections.
15. If a partner, being a trustee, improperly employs trust-property- in the business or on the account of the partnership, no other partner i liable for the trust-property to the persons beneficially interested the in: Provided as follows:
(1.) this section shall not affect any liability incurred by any partne
by reason of his having notice of a breach of trust; and
J
(2.) nothing in this section shall prevent trust money from being followed and recovered from the firm, if still in its possession under its control.
16.-(1.) Every one who, by words spoken or written or by conduct by "holding 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.
Admissions and represen- tations of partner.
Notice to
acting partner to be notice to firm.
Liabilities of
incoming and
outgoing partners.
(2.) Provided that where, after a partner's death, the partnership buat ness 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 mak his executors or administrators, estate or effects, liable for any partnere ship debts contracted after his death.
17. An admission or representation made by any partner concerning the partnership affairs, and in the ordinary course of its business, evidence against the firm.
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.
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 an done before he became a partner.
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