PARTNERSHIP ACT 1895 - SECT 20

PARTNERSHIP ACT 1895 - SECT 20

20 .         Improper employment of trust property

                If a partner, being a trustee, improperly employs trust property in the business, or on account of the partnership, no other partner shall be liable for the trust property to the persons beneficially interested therein, unless he knew of the breach of trust. 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.