Notice to any partner of any matter relating to partnership affairs, and the knowledge of the partner acting in the particular matter, acquired while a partner or then present to his mind, and the knowledge of any other partner who reasonably could and should have communicated it to the acting partner, operate as notice to or knowledge of the partnership, except in the case of a fraud on the partnership committed by or with the consent of that partner.
N.C. Gen. Stat. § 59-42
Partnership charged with knowledge of or notice to partner
Known as the North Carolina Uniform Partnership Act
The act spans §§ 59–59 (46 sections).
Applied in 1 court decision — leading case 72 F. Supp. 2d 576 - Forrest Drive Associates v. Wal-Mart Stores, Inc. (1999)
Most recently applied in 72 F. Supp. 2d 576 - Forrest Drive Associates v. Wal-Mart Stores, Inc. (September 1999)
1941, c. 374, s. 12.
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.