The Florida Senate

¹620.75  Rights when partnership is dissolved for fraud or misrepresentation.--When a partnership contract is rescinded on the ground of the fraud or misrepresentation of one of the parties to it, the party entitled to rescind is, without prejudice to any other right, entitled:

(1)  To a lien on, or a right of retention of, the surplus of the partnership property after satisfying the partnership liabilities to third persons for any sum of money paid by her or him for the purchase of an interest in the partnership and for capital or advances contributed by her or him; and

(2)  After all liabilities to third persons have been satisfied to stand in the place of the creditors of the partnership for payments made by her or him for partnership liabilities; and

(3)  To be indemnified by the person guilty of the fraud or making the representation against all debts and liabilities of the partnership.

History.--s. 39, ch. 72-108; s. 25, ch. 95-242; s. 163, ch. 97-102.

¹Note.--Repealed effective January 1, 1998, by s. 25, ch. 95-242.