Partnership
Partnership Agreement
New York
Can a partner in a partnership agreement be held liable for the actions of another partner?
I am currently in a partnership agreement with two other individuals, and we have recently encountered a situation where one of the partners engaged in illegal activities on behalf of the partnership. I am concerned about the potential liability that I may face as a result of their actions, and I would like to know if it is possible for a partner to be held personally liable for the actions of another partner in a partnership agreement.
1 Attorney answer
Answer
Partnership
New York
Akash K.
ContractsCounsel verified
As with most legal questions, the answer is "it depends". In this case, it would depend largely on the relationship between your partner's illegal activities and the partnership - which would also be impacted by the type of partnership, terms of the partnership agreement and any actual or constructive knowledge you and/or your partner had regarding the illegal actions. However, in some cases it would be possible to be held personally liable for your partner's actions.
17 projects on CC
Quick, user friendly and one of the better ways I've come across to get ahold of lawyers willing to take new clients.
View Trustpilot ReviewAsk a Question
New York Partnership lawyers by city
- Albany Partnership Lawyers
- Buffalo Partnership Lawyers
- New York Partnership Lawyers
- Rochester Partnership Lawyers
- Syracuse Partnership Lawyers
- Yonkers Partnership Lawyers
Contracts Counsel was incredibly helpful and easy to use. I submitted a project for a lawyer's help within a day I had received over 6 proposals from qualified lawyers. I submitted a bid that works best for my business and we went forward with the project.
View Trustpilot Review
I never knew how difficult it was to obtain representation or a lawyer, and ContractsCounsel was EXACTLY the type of service I was hoping for when I was in a pinch. Working with their service was efficient, effective and made me feel in control. Thank you so much and should I ever need attorney services down the road, I'll certainly be a repeat customer.
View Trustpilot Review
I got 5 bids within 24h of posting my project. I choose the person who provided the most detailed and relevant intro letter, highlighting their experience relevant to my project. I am very satisfied with the outcome and quality of the two agreements that were produced, they actually far exceed my expectations.
View Trustpilot Review