NC General Statutes
N.C. Gen. Stat. § 59-44 (2026)
Partnership bound by partner's breach of trust
✓ laws through the 2026 session (checked Oct. 2026)
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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. (1941, c. 374, s. 14.)