178.11 Partnership liable on partner's breach of trust.
178.11
178.11 Partnership liable on partner's breach of trust. The partnership is bound to make good the loss if any of the following occurs:178.11(1)
(1) One partner acting within the scope of his or her apparent authority receives money or property of a 3rd person and misapplies it.178.11(2)
(2) The partnership in the course of its business receives money or property of a 3rd person and the money or property so received is misapplied by any partner while it is in the custody of the partnership.178.11 - ANNOT.
History: 1993 a. 482.