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[Cites 0, Cited by 0] [Section 27] [Entire Act]

Union of India - Subsection

Section 27(b) in The Indian Partnership Act, 1932

(b)a firm in the course of its business receives money or property from a third party, and the money or property is misapplied by any of the partners while it is in the custody of the firm the firm is liable to make good the loss.