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PARTNERSHIP ACT 1890 - SECT 13

Improper employment of trust-property for partnership purposes.

13. If a partner, being a trustee, improperly employs trust-property in the
business or on the account of the partnership, no other partner is liable for
the trust-property to the persons beneficially interested therein:

Provided as follows:

(1)This section shall not affect any liability incurred by any partner by
reason of his having notice of a breach of trust; and

(2)Nothing in this section shall prevent trust money from being followed and
recovered from the firm if still in its possession or under its control.


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© 1890 Crown Copyright

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