Northern Territory Numbered Acts

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PARTNERSHIP AMENDMENT (VENTURE CAPITAL FUNDS) ACT 2006 (NO 9 OF 2006) - SECT 18

Representation as partner

(1)     A person is liable as a partner in a firm other than an incorporated limited partnership to a creditor of the firm who provided the credit because of a representation that the person is that partner.

(2)     A person is liable as a general partner in an incorporated limited partnership to a creditor of the partnership who provided the credit because of a representation that the person is that general partner.

(3)     Subsection (1) or (2) has effect –

    (a)     whether or not the representation was made by the person or with the person's permission or knowledge; and

    (b)     whether the representation was made orally, in writing or by conduct.

(4)     The estate of a partner in a firm is not liable for any debt incurred by the firm after the partner's death only because, after the death –

    (a)     the same firm name continues to be used; or

    (b)     the partner's name continues to be used in the firm name.



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