66. Misapplication of money.

Where one partner acting within the scope of his apparent authority receives the money or property of a third person and misapplies it1, or where a firm in the course of its business2 receives money or property of a third person, and the money or property so received is misapplied by one or more of the partners while it is in the custody of the firm3, the firm is liable to make good the loss4. Every partner is liable jointly with his co-partners and also severally for everything for which the firm becomes liable, while he is a partner,

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