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.
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.
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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