State Codes and Statutes

Statutes > Wisconsin > 178 > 178.11

178.11

178.11 Partnership liable on partner's breach of trust. The partnership is bound to make good the loss if any of the following occurs:

178.11(1)

(1) One partner acting within the scope of his or her apparent authority receives money or property of a 3rd person and misapplies it.

178.11(2)

(2) The partnership in the course of its business receives money or property of a 3rd person and the money or property so received is misapplied by any partner while it is in the custody of the partnership.

178.11 - ANNOT.

History: 1993 a. 482.