Nevada § 87.4332 - Liability of purported partner

§ 87.4332. Liability of purported partner

1. If a person, by words or conduct, purports to be a partner, or consents to being

represented by another as a partner, in a partnership or with one or more persons

not partners, the purported partner is liable to a person to whom the representation

is made, if that person, relying on the representation, enters into a transaction

with the actual or purported partnership. If the representation, either by the purported partner or by a person with the purported

partner's consent, is made in a public manner, the purported partner is liable to

a person who relies upon the purported partnership even if the purported partner is

not aware of being held out as a partner to the claimant. If partnership liability results, the purported partner is liable with respect to

that liability as if the purported partner were a partner. If no partnership liability results, the purported partner is liable with respect

to that liability jointly and severally with any other person consenting to the representation. 2. If a person is thus represented to be a partner in an existing partnership, or

with one or more persons not partners, the purported partner is an agent of persons

consenting to the representation to bind them to the same extent and in the same manner

as if the purported partner were a partner, with respect to persons who enter into

transactions in reliance upon the representation. If all of the partners of the existing partnership consent to the representation,

a partnership act or obligation results. If fewer than all of the partners of the existing partnership consent to the representation,

the person acting and the partners consenting to the representation are jointly and

severally liable. 3. A person is not liable as a partner merely because the person is named by another

in a statement of partnership authority. 4. A person does not continue to be liable as a partner merely because of a failure

to file a statement of dissociation or to amend a statement of partnership authority

to indicate the partner's dissociation from the partnership. 5. Except as otherwise provided in subsections 1 and 2, persons who are not partners

as to each other are not liable as partners to other persons. 6. Subsections 1 and 2 do not apply to any person who, by words spoken or written

or conduct, announces an association of persons for the sole purpose of a business

development, regardless of whether such an announcement uses, or the association of

persons is described by, the terms “partnering” or “joint venturing” or any other

similar term, so long as the business development is undertaken by one or more corporations

or limited-liability companies.