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2018 Georgia Code 14-8-14 | Car Wreck Lawyer

Link to State of Georgia Official Statute 2018 Georgia Code Annotated (sourced from legal.resource.org)
O.C.G.A. 14-8-14 Case Law from Google Scholar Amendments to OCGA 14-8-14

TITLE 14 CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS

Section 8. Partnerships, 14-8-1 through 14-8-64.

ARTICLE 3 CORPORATIONS ORGANIZED FOR RELIGIOUS, FRATERNAL, OR EDUCATIONAL PURPOSES

14-8-14. Recovery from partnership for loss caused by wrongful act of partner.

The partnership is bound to make good the loss:

  1. Where one partner acting within the scope of his apparent authority receives money or property of a third person and misapplies it; and
  2. Where the partnership in the course of its business receives money or property of a third person and the money or property so received is misapplied by any partner while it is in the custody of the partnership.

(Code 1981, §14-8-14, enacted by Ga. L. 1984, p. 1439, § 1.)

COMMENT

Note to Uniform Partnership Act This section states rules for determining when the partnership is liable in connection with misapplication of funds of a third person by a partner.

Prior Georgia Law There was no precisely comparable provision. Prior O.C.G.A. §§ 14-8-65 (partnership liability for partners' fraud) and14-8-66 (partnership liability for partners' torts) were generally consistent.

Official UPA This section is the same as the official version.

Cross-References Apparent authority of partners: § 14-8-9(1). Partnership liability for acts of non-partner employees: § 14-8-4(c) (law of agency applies).

JUDICIAL DECISIONS

Creation of fiduciary relationship.

- O.C.G.A. § 14-8-14, construed with O.C.G.A. § 14-8-21, does not create a fiduciary relationship between partners as contemplated by the federal bankruptcy law provision relating to debts nondischargeable for fraud or defalcation. Any fiduciary relationship created is in favor of the partnership and not in favor of an individual partner. Betz v. Gay, 117 Bankr. 753 (Bankr. M.D. Ga. 1989).

Cited in Adler v. Hertling, 215 Ga. App. 769, 451 S.E.2d 91 (1994).

RESEARCH REFERENCES

Am. Jur. 2d.

- 59A Am. Jur. 2d, Partnership, § 371.

C.J.S.

- 68 C.J.S., Partnership, §§ 192, 204, 214, 226 et seq.

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