Cal. Corporations Code § 16305
Cal. Corporations Code § 16305
California · California Corporations Code · Status: effective · Effective 1997-01-01
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- Citation
- Cal. Corporations Code § 16305, California, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/792903
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Full text
(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 authority of the partnership.
(b) If, in the course of the partnership’s business or while acting with 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.