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New York Partnership Law Section 27 - Partner By Estoppel.Legal Research Home > New York Lawyer > Partnership > New York Partnership Law Section 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 has been made, who has, on the faith
of such representation, given credit to the actual or apparent
partnership, and if he has made such representation or consented to its
being made in a public manner he is liable to such person, whether the
representation has or has not been made or communicated to such person
so giving credit by or with the knowledge of the apparent partner making
the representation or consenting to its being made.
(a) When a partnership liability results, he is liable as though he
were an actual member of the partnership.
(b) When no partnership liability results, he is liable jointly with
the other persons, if any, so consenting to the contract or
representation as to incur liability, otherwise separately.
2. When a person has been thus represented to be a partner in an
existing partnership, or with one or more persons not actual partners,
he is an agent of the persons consenting to such representation to bind
them to the same extent and in the same manner as though he were a
partner in fact, with respect to persons who rely upon the
representation. Where all the members of the existing partnership
consent to the representation, a partnership act or obligation results;
but in all other cases it is the joint act or obligation of the person
acting and the persons consenting to the representation.
Last modified: August 9, 2006 |