N.J. Stat. § 42:1A-17
Partnership liable for loss, injury
New Jersey · New Jersey Statutes Title 42 — Partnerships and Partnership Associations · Status: effective
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- Citation
- N.J. Stat. § 42:1A-17, Partnership liable for loss, injury, New Jersey, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1470142
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Full text
17. 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 the authority of the partnership.
b. If, in the course of the partnership's business or while acting with the 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.