Holding out liability: person representing as partner and LLP liable to creditors for credit given on that representation. A person who, by words, writing or conduct, represents or knowingly permits himself to be represented as a partner in a limited liability partnership is ... Summary
Holding out liability: person representing as partner and LLP liable to creditors for credit given on that representation.
A person who, by words, writing or conduct, represents or knowingly permits himself to be represented as a partner in a limited liability partnership is liable to any person who, on that representation, gave credit to the partnership; the partnership is also liable to the extent of credit received or financial benefit derived. Continued use of a deceased partner's name or the partnership name after death does not by itself make the deceased partner's legal representative or estate liable for acts done after death.
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