PARTNERSHIP - BANKRUPTCY-PARTNER'S LIABILITY FOR MISAPPROPRIATION OF PARTNERSHIP FUNDS NOT DISCHARGED BY HIS BANKRUPTCY

Authors

Abstract

After dissolution of the partnership, one partner appropriated sums of money belonging to the partnership to his own use. He was subsequently discharged in bankruptcy. His co-partner, by a cross-bill in a suit for the appointment of a receiver and for liquidation of the partnership, sought to hold him for the liability, and it was held that this liability was not discharged by his bankruptcy, since the money appropriated was the property of the firm, and his taking of it was wilful and malicious injury to the property of another, liability for which is exempted from discharge by sec. 17 (2) of the Bankruptcy Act ( II U. S. C. A., sec. 35). Lyon v. Prescott (Vt. 1931) 156 Atl. 679.

Recommended Citation

PARTNERSHIP - BANKRUPTCY-PARTNER'S LIABILITY FOR MISAPPROPRIATION OF PARTNERSHIP FUNDS NOT DISCHARGED BY HIS BANKRUPTCY, 30 Mich. L. Rev. 807 (1932).
Available at: https://repository.law.umich.edu/mlr/vol30/iss5/26