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Section 13 — Improper employment of trust property for partnership purposes

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 that —

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

(b)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.

Cite this section

PA1890, s 13 (Singapore Statutes Online). Retrieved via LawPlayer, https://lawplayer.com/sg/act/PA1890/13

Source: Singapore Statutes Online (sso.agc.gov.sg), © Singapore Government

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本頁資料來源:Singapore Statutes Online (AGC)·整理提供:法律人 LawPlayer· lawplayer.com