U.S. Supreme Court
McIntyre v. Kavanaugh, 242 U.S. 138 (1916)
McIntyre v. Kavanaugh
Argued November 10, 1916
Decided December 4, 1916
242 U.S. 138
Partner are individually responsible for tort committed by their firm while acting within the general cope of it business, whether they personally participate therein or not.
One who, being entrusted with the possession of corporate stocks as security for an indebtedness, deliberately sells them and appropriates the proceeds, in excess of the debt secured, without the knowledge or consent of their owner, is guilty of a "willful and malicious" injury to property within the meaning of § 17, clause 2, of the Bankruptcy Act, as amended by the Act of February 5, 1903, 32 Stat. 798, and, consequently, his liability is not released by a discharge in bankruptcy.
210 N.Y. 176 affirmed.
The case is stated in the opinion.