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Essay Multiple Choice

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All Jurisprudence based

0 tracked cards Commercial and Taxation Laws

The firm receives a customer's property in the course of business. While it remains in partnership custody, one partner misapplies it. Management insists the firm is liable only if every partner was individually authorized to take the property. Which Article 1823 analysis is sound?

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The firm's receipt destroys all property rights. All partners must personally sign the wrongful act. The second category covers property received in the course of business and misapplied by a partner while in firm custody. The client automatically becomes an industrial partner.

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