Limited liability shields the partnership from unauthorized partner acts; the LLP alone bears obligations and property borne liabilities. An LLP is not bound by a partner's act when the partner lacked actual authority and the other party knew of that lack or did not know the person was a partner. The LLP is liable for wrongful acts or omissions by a partner committed in the course of the LLP's business or with its authority. All obligations are solely those of the LLP and its liabilities are to be met from the LLP's property.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Limited liability shields the partnership from unauthorized partner acts; the LLP alone bears obligations and property borne liabilities.
An LLP is not bound by a partner's act when the partner lacked actual authority and the other party knew of that lack or did not know the person was a partner. The LLP is liable for wrongful acts or omissions by a partner committed in the course of the LLP's business or with its authority. All obligations are solely those of the LLP and its liabilities are to be met from the LLP's property.
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