NC General Statutes

N.C. Gen. Stat. § 59-42 (2026)

Partnership charged with knowledge of or notice to partner

✓ current as of July 2026

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Notice to any partner of any matter relating to partnership affairs, and the knowledge of the partner acting in the particular matter, acquired while a partner or then present to his mind, and the knowledge of any other partner who reasonably could and should have communicated it to the acting partner, operate as notice to or knowledge of the partnership, except in the case of a fraud on the partnership committed by or with the consent of that partner. (1941, c. 374, s. 12.)

Notes of Decisions

Cited in 2 cases, 1980–1999 · leading case: Forrest Drive Assocs. v. Wal-Mart Stores, Inc., 72 F. Supp. 2d 576 (M.D.N.C. 1999).

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Forrest Drive Assocs. v. Wal-Mart Stores, Inc., 72 F. Supp. 2d 576 (M.D.N.C. 1999). · cites it 2× “Second, and to the contrary, there is evidence in the record to show that plaintiff was not defrauded by any of defendant’s actions.”

Browning v. Maurice B. Levien & Co., 262 S.E.2d 355 (N.C. Ct. App. 1980). “Defendants rely on G.S. 59-42 and Howard v. Hamilton and Howard v.”

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