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Home » US Law » 2022 New York Laws » Consolidated Laws » PTR - Partnership » Article 3 - Relations of Partners to Persons Dealing With the Partnership.

20 – Partner Agent of Partnership as to Partnership Business.

§ 20. Partner agent of partnership as to partnership business. 1. Every partner is an agent of the partnership for the purpose of its business, and the act of every partner, including the execution in the partnership name of any instrument, for apparently carrying on in the usual way the business of the partnership of […]

21 – Conveyance of Real Property of the Partnership.

§ 21. Conveyance of real property of the partnership. 1. Where title to real property is in the partnership name, any partner may convey title to such property by a conveyance executed in the partnership name; but the partnership may recover such property unless the partner’s act binds the partnership under the provisions of subdivision […]

22 – Partnership Bound by Admission of Partner.

§ 22. Partnership bound by admission of partner. An admission or representation made by any partner concerning partnership affairs within the scope of his authority as conferred by this chapter is evidence against the partnership.

23 – Partnership Charged With Knowledge of or Notice to Partner.

§ 23. Partnership charged with knowledge of or notice to partner. 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 […]

24 – Partnership Bound by Partner’s Wrongful Act.

§ 24. Partnership bound by partner’s wrongful act. Where, by any wrongful act or omission of any partner acting in the ordinary course of the business of the partnership, or with the authority of his copartners, loss or injury is caused to any person, not being a partner in the partnership, or any penalty is […]

25 – Partnership Bound by Partner’s Breach of Trust.

§ 25. Partnership bound by partner’s breach of trust. 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 […]

26 – Nature of Partner’s Liability.

§ 26. Nature of partner’s liability. (a) Except as provided in subdivision (b) of this section, all partners are liable: 1. Jointly and severally for everything chargeable to the partnership under sections twenty-four and twenty-five. 2. Jointly for all other debts and obligations of the partnership; but any partner may enter into a separate obligation […]

27 – Partner by Estoppel.

§ 27. Partner by estoppel. 1. When a person, by words spoken or written or by conduct, represents himself, or consents to another representing him to any one, as a partner in an existing partnership or with one or more persons not actual partners, he is liable to any such person to whom such representation […]

28 – Liability of Incoming Partner.

§ 28. Liability of incoming partner. A person admitted as a partner into an existing partnership is liable for all the obligations of the partnership arising before his admission as though he had been a partner when such obligations were incurred, except that his liability shall be satisfied only out of partnership property.