27. Liability of firm for misapplication by partners.
Where-
(a) a partner acting within his apparent authority receives money or property from a third party and misapplies it, or
(b) a firm in the course of its business receives money or property from a third party, and the money or property is misapplied by any of the partners while it is in the custody of the firm,
the firm is liable to make good the loss.
WritingLaw offers important Bare Act PDFs, Law Notes, Law Q&As, Law Articles, Law MCQ Tests, and more.
Latest posts by WritingLaw (see all)
- Section 188 BNS (Bharatiya Nyaya Sanhita) - 2nd November 2025
- Section 189 BNS (Bharatiya Nyaya Sanhita) - 2nd November 2025
- Section 190 BNS (Bharatiya Nyaya Sanhita) - 2nd November 2025
