50-73.95 - Partnership liable for partner's actionable conduct. - Virginia Statutes

§ 50-73.95. Partnership liable for partner's actionable conduct.

A. A partnership is liable for loss or injury caused to a person, or for apenalty incurred, as a result of a wrongful act or omission, or otheractionable conduct, of a partner acting in the ordinary course of business ofthe partnership or with authority of the partnership.

B. If, in the course of the partnership's business or while acting withauthority of the partnership, a partner receives or causes the partnership toreceive money or property of a person not a partner, and the money orproperty is misapplied by a partner, the partnership is liable for the loss.

(1996, c. 292.)